Document:

Non-Qualified Share Option Agreement with Henry Silverman

 Exhibit 10.41 
 NON-QUALIFIED SHARE OPTION AGREEMENT 
 pursuant to the 

APOLLO GLOBAL MANAGEMENT, LLC 
 2007 OMNIBUS EQUITY INCENTIVE PLAN 
 This NON-QUALIFIED SHARE OPTION
AGREEMENT (this “Agreement”), dated as of January 21, 2011 (the “Grant Date”), is by and between APOLLO GLOBAL MANAGEMENT, LLC, a Delaware limited liability company, (the “Company”), and
Henry Silverman (“Participant”). 
 1. Grant of Option. The Company hereby grants to Participant on the
Grant Date a non-statutory option (“the Option” or “this Option”) to purchase 555,556 Class A Shares of the Company (the “Shares”) at an exercise price of $9.00 per Share (the “Exercise
Price”) subject to the terms, definitions and provisions of the 2007 Omnibus Equity Incentive Plan as in effect from time to time (the “Plan”) and the terms of this Agreement. Any Shares issued or issuable upon exercise of
this Option are referred to as “Option Shares.” This Option is subject to adjustment under Section 5 of the Plan. This Option is not an incentive stock option within the meaning of Section 422 of the Code. For purposes of
the Plan, this Agreement constitutes the Award Agreement for the Option. 
 2. The Plan. The terms and provisions of the
Plan are hereby incorporated into this Agreement as if set forth herein in their entirety. In the event of a conflict between any provision of this Agreement and the Plan, the provisions of the Plan shall control. A copy of the Plan may be obtained
from the Company by Participant upon request. Capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed thereto in the Plan. As used in this Agreement, “Public Offering Date” means the date
the Class A Shares are first registered under the Exchange Act and listed or quoted on a recognized national securities exchange as a result of an underwritten public offering. 

3. Term. The term of the Option (the “Option Term”) shall commence on the Grant Date and expire on the tenth
anniversary of the Grant Date (the “Expiration Date”), unless the Option shall have sooner been terminated in accordance with Section 5 of this Agreement. 

4. Vesting. The Option shall vest in accordance with the following schedule: 

(a) The Option shall vest and become exercisable with respect to fifty (50) percent of the Option Shares covered by the Option on
the later to occur of (x) December 31, 2011 and (y) the Public Offering Date, provided that the Option shall terminate on December 31, 2012 if the Public Offering Date has not occurred on or before such date.

 (b) Provided that the Public Offering Date has occurred on or before such date, the Option shall vest and become exercisable
with respect to the remainder of the Option Shares covered by the Option on December 31, 2012. 
 (c) If Participant’s
Service terminates as a result of his Disability or death, the Option shall vest on the Termination Date and become exercisable with respect to 50% of the Option Shares covered by the Option that remain unvested on the Termination Date. If
Participant’s Service is terminated by the Company and its Affiliates without Cause (and other than as a result of his Disability or death), the Option shall vest on the Termination Date and become exercisable with respect to 100% of the Option
Shares covered by the Option that remain unvested on the Termination Date. 

 (d) Service for only a portion of a vesting period, even if a substantial portion, will not
entitle Participant to any proportionate vesting. Fractional shares shall not vest until they accumulate to equal one whole Share. 
 5. Termination of Relationship. 
 (a) Following the date of termination of
Participant’s Service for any reason (the “Termination Date”), Participant may exercise this Option only as set forth in this Section 5. If Participant does not exercise this Option within exercise periods set forth
below, this Option shall terminate in its entirety. In no event may this Option be exercised after the Expiration Date. As used herein, “Service” means service to the Company or any of its Subsidiaries or Affiliates as an
employee, director, non-employee director or consultant. Participant’s Service does not terminate if he is an employee and undertakes a bona fide leave of absence that was approved by the Company or an Affiliate in writing and the terms of the
leave provide for continued service crediting, or when continued service crediting is required by applicable law. Service terminates in any event when any such approved leave ends, unless Participant immediately returns to active work. Further,
unless otherwise determined by the Administrator, Participant’s Service will not terminate merely because of a change in the capacity in which Participant provides service to the Company or any of its Subsidiaries or Affiliates, or because of a
transfer between the Company or any Subsidiary or Affiliate, for so long as the service recipient remains a Subsidiary or an Affiliate, in each case provided that there is no termination of Service. For purposes of Participant’s Service,
a Subsidiary or Affiliate shall not include a Portfolio Company. 
 (b) The Option shall be exercisable, to the extent vested,
at any time prior to the Expiration Date (at which time the Option shall automatically terminate), except that the Option shall automatically terminate upon the earliest to occur of: 

(i) the date that is 30 days after the Termination Date if Participant’s Service is terminated by Participant; 

(ii) the date that is 90 days after the Termination Date if Participant’s Service is terminated by the Company and its Affiliates
without Cause; 
 (iii) the date that is 12 months after the Termination Date if Participant’s Service is terminated as a
result of Participant’s Disability or death; and 
 (iv) the Termination Date if the Company terminates Participant’s
Service for Cause. If Participant’s Service with the Company or an Affiliate is suspended pending investigation of whether his Service shall be terminated for Cause, all of Participant’s rights in respect of this Option, including, without
limitation, the right to exercise this Option, shall be suspended during the investigation period. For purposes of clarity, the Option Term shall not be modified as a result of any such suspension. 

6. Termination of Unvested Option. The portion of the Option that has not vested on the Termination Date, after giving effect to
the accelerated vesting set forth in Section 4(c), shall terminate as of the Termination Date. For purposes of clarity, upon termination of the Option for any reason, the Option shall be forfeited, become null and void, be unexercisable
and be of no further force and effect. 
 7. Method of Exercise. 

(a) This Option shall be exercisable by execution and delivery of the Notice of Exercise attached hereto as Exhibit B (as the same
may be updated by the Company from time to time) or of any other form of written notice approved for such purpose by the Company, which shall state 

  
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Participant’s election to exercise this Option, the number of Option Shares in respect of which this Option is being exercised, and such other representations and agreements as to the
holder’s investment intent with respect to such Option Shares as may be required by the Company pursuant to the provisions of the Plan. Such written notice shall be signed by Participant and shall be delivered to the Company by such means as
are determined by the Administrator in its discretion to constitute adequate delivery. The written notice shall be accompanied by payment of the aggregate Exercise Price for the purchased Option Shares and Participant’s satisfaction of any
applicable withholding obligations, as discussed in Section 14. 
 (b) The Company is not obligated, and will have no
liability for failure, to issue or deliver any Option Shares upon exercise of this Option if it determines in consultation with its legal counsel that such issuance or delivery would not comply with all applicable laws, rules and regulations. This
Option may not be exercised if the issuance of the Option Shares upon such exercise or the method of payment of consideration for the Option Shares would constitute a violation of any applicable laws, rules or regulations, including any applicable
U.S. federal or state securities laws or any other law or regulation. As a condition to the exercise of this Option, the Company may require Participant to make any representation and warranty to the Company or other undertaking as may be required
by applicable laws, rules or regulations. Assuming such compliance, for income tax purposes the Option shall be considered exercised on the date on which written notice of exercise is received by the Company (provided such notice is
accompanied by the aggregate Exercise Price and arrangements for satisfaction of applicable withholding obligations), with respect to such Option Shares. 
 8. Method of Payment. Payment of the Exercise Price shall be by any of the following, or a combination of the following: (a) cash, (b) check, or (c) to the extent permitted by the
Administrator, reduction of the Shares issuable upon exercise, surrender of previously owned Shares, or broker-assisted cashless exercise. 
 9. Disposition of Option Shares. Option Shares may be sold by Participant only on a date or dates, and in such amounts and manner, specified by the Administrator. Participant shall have the
ability, subject to Section 14 and the Plan, in a manner permitted by the Administrator, to cover taxes due upon the exercise of Options, at the applicable tax rate (or a rate provided by the Administrator). The Administrator will
monitor demand, market conditions and other factors in determining whether Participant may dispose of an additional number of Shares in a given quarter, and will endeavor in good faith to treat Participant fairly in determining any such allocations
relative to other holders of similar awards and/or other equityholders. 
 10. Non-Transferability of Option. Except as
may be permitted by the Administrator from time to time consistent with Section 7(g) of the Plan, this Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution. This Option may be exercised
during the lifetime of Participant only by Participant or, during any period Participant is under a legal disability, by Participant's legal guardian or representative, and following Participant’s death, by his estate or beneficiary.

 11. No Rights to Continuation of Employment or Service. Nothing in the Plan or this Agreement shall confer upon
Participant any right to continue in the Service of the Company or any Subsidiary or Affiliate thereof or shall interfere with or restrict the right of the Company or its shareholders (or of a Subsidiary or Affiliate or its shareholders, as the case
may be) to terminate Participant's Service any time for any reason whatsoever, with or without Cause. The Plan and this Agreement shall not (a) form any part of any contract of employment or contract for services between the Company or any past
or present Subsidiary or Affiliate thereof and any directors, officers or employees of those companies, (b) confer any legal or equitable rights (other than those constituting the Option itself)

  
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against the Company or any past or present Subsidiary or Affiliate thereof, directly or indirectly, or (c) give rise to any cause of action in law or in equity against the Company or any
past or present Subsidiary or Affiliate thereof (other than any cause of action due to a breach of this Agreement). 
 12. No
Entitlement or Claims for Compensation. Participant's rights, if any, in respect of or in connection with this Option or any other Award are derived solely from the discretionary decision of the Company to permit Participant to participate in
the Plan and to benefit from a discretionary Award. By accepting this Option, Participant expressly acknowledges that there is no obligation on the part of the Company to continue the Plan and/or grant any additional Awards to Participant. This
Option is not intended to be compensation of a continuing or recurring nature, or part of Participant’s normal or expected compensation, and in no way represents any portion of Participant’s salary, compensation, or other remuneration for
purposes of pension benefits, severance, redundancy, resignation or any other purpose. Upon Participant’s termination of Service for any reason, Participant shall be deemed irrevocably to have waived any claim to damages or specific performance
for breach of contract or dismissal, compensation for loss of office, tort or otherwise with respect to the Plan, this Option or any outstanding Award that is forfeited and/or is terminated by its terms or to any future Award. Participant
acknowledges that he is voluntarily participating in the Plan. The future value of the underlying Option Shares is unknown and cannot be predicted with certainty. If the underlying Shares do not increase in value, the Option will have no value. If
Participant exercises the Option and obtains Option Shares, the value of the Option Shares acquired upon exercise may increase or decrease in value, even below the Exercise Price. 

13. Restrictive Covenants. Participant agrees that the restrictive covenants set forth in Exhibit A hereto are incorporated
herein by reference as if contained herein and Participant understands, acknowledges and agrees that such restrictive covenants apply to Participant for the periods provided therein. Nothing contained herein shall reduce or limit the application or
scope of any restrictive covenants in favor of the Company or any of its Subsidiaries or Affiliates (for example, with respect to competition, solicitation, confidentiality, interference or disparagement) to which Participant is otherwise subject.

 14. Tax Withholding. Participant is responsible for all applicable taxes Participant incurs in connection with the
Option. The Company or its Subsidiaries or Affiliates shall be entitled to require a cash payment by or on behalf of Participant and/or to deduct, from other compensation payable to Participant, any sums required by U.S. federal, state or local law
(or by any tax authority outside of the United States) to be withheld or accounted for by the Company or its Subsidiaries or Affiliates with respect to this Option or any Option Share issuable upon exercise thereof. The Administrator, in its sole
discretion, may alternatively reduce the number of Shares to be issued upon the exercise of the Option by the appropriate number of whole Shares, valued at their then Fair Market Value, or permit Participant to deliver previously owned Shares, in
each case to satisfy any withholding or tax obligations of the Company or its Subsidiaries or Affiliates with respect to the Option at the minimum applicable rates. 
 15. Section 409A. This Option is intended to be exempt from Section 409A and to be interpreted in a manner consistent therewith. Notwithstanding anything to the contrary contained in this
Agreement, to the extent that the Administrator determines that the Plan or this Option is subject to Section 409A and fails to comply with the requirements of Section 409A, the Administrator reserves the right (without any obligation to
do so or to indemnify Participant for failure to do so), without the consent of Participant, to amend or terminate the Plan and Agreement and/or to amend, restructure, terminate or replace this Option in order to cause the Option to either not be
subject to Section 409A or to comply with the applicable provisions of such section. Nothing contained herein is intended to provide a guarantee of Participant’s personal tax treatment. 

  
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 16. Governing Law: Choice of Venue. This Agreement shall be governed by, interpreted
under, and construed and enforced in accordance with the internal laws, and not the laws pertaining to conflicts or choices of laws, of the State of Delaware applicable to agreements made and to be performed wholly within the State of Delaware. With
respect to any suit, action or proceeding (“Proceeding”) arising out of or relating to this Agreement or any transaction contemplated hereby, each of the parties hereto hereby irrevocably (a) submits to the exclusive personal
and legal jurisdiction of (i) the United States District Court for the Southern District of New York or (ii) in the event that such court lacks jurisdiction to hear the claim, the state courts of New York located in the borough of
Manhattan, New York City (the “Selected Courts”), and waives any objection to venue being laid in the Selected Courts whether based on the grounds of forum non conveniens, improper venue or otherwise and hereby agrees not to
commence any such Proceeding other than before one of the Selected Courts; provided, however, that a party may commence any Proceeding in a court other than a Selected Court solely for the purpose of enforcing an order or judgment issued by
one of the Selected Courts; and (b) consents to service of process in any Proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, or by recognized international express carrier or delivery service, to the
Company and Participant at their respective addresses consistent with Section 14(g) of the Plan; provided, however, that nothing herein shall affect the right of any party hereto to serve process in any other manner permitted by law.
TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, PARTICIPANT AND THE COMPANY AND ITS AFFILIATES HEREBY WAIVE AND COVENANT THAT THEY WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN
ANY ACTION IN WHOLE OR IN PART ARISING OUT OF OR RELATED TO THIS AGREEMENT OR ANY MATTERS CONTEMPLATED HEREBY, WHETHER NOW OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AND AGREE THAT ANY OF THE COMPANY OR ANY OF ITS
AFFILIATES OR PARTICIPANT MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE COMPANY AND ITS AFFILIATES, ON THE ONE HAND, AND PARTICIPANT, ON THE OTHER HAND,
IRREVOCABLY TO WAIVE THE RIGHT TO TRIAL BY JURY IN ANY PROCEEDING WHATSOEVER BETWEEN THESE PARTIES ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND THAT ANY SUCH PROCEEDING WILL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE
SITTING WITHOUT A JURY. 
 17. Agreement Binding on Successors. The terms of this Agreement shall be binding upon
Participant and upon Participant’s heirs, executors, administrators, personal representatives, transferees, assignees and successors in interest and upon the Company and its successors and assignees, subject to the terms of the Plan.

 18. No Assignment. Neither this Agreement nor any rights granted herein shall be assignable by Participant other than
(with respect to any rights that survive Participant’s death) by will or the laws of descent and distribution. No purported sale, assignment, mortgage, hypothecation, transfer, pledge, encumbrance, gift, transfer in trust (voting or other) or
other disposition of, or creation of a security interest in or lien on, this Option or Option Shares by any holder thereof in violation of the provisions of this Agreement or the Plan will be valid, and the Company will not transfer any of this
Option or Option Shares on its books nor will any Option Shares be entitled to vote, nor will distributions be paid thereon, unless and until there has been full compliance with said provisions to the satisfaction of the Company. The foregoing
restrictions are in addition to and not in lieu of any other remedies, legal or equitable, available to enforce said provisions. 
 19. Necessary Acts. Participant hereby agrees to perform all acts, and to execute and deliver any documents, that may be reasonably necessary to carry out the provisions of this Agreement,
including but not limited to all acts and documents related to compliance with securities, tax and other applicable laws and regulations. 

  
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 20. Severability. Should any provision of this Agreement be held by a court of
competent jurisdiction to be unenforceable, or enforceable only if modified, such holding shall not affect the validity of the remainder of this Agreement, the balance of which shall continue to be binding upon the parties hereto with any such
modification (if any) to become a part hereof and treated as though contained in this original Agreement. Moreover, if one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to scope,
activity, subject or otherwise so as to be unenforceable, then in lieu of severing such unenforceable provision or provisions, it or they shall be construed by the appropriate judicial body by limiting or reducing it or them, so as to be enforceable
to the maximum extent compatible with the applicable law as it shall then appear, and such determination by a judicial body shall not affect the enforceability of such provisions or provisions in any other jurisdiction. 

21. Failure to Enforce Not a Waiver. The failure of the Company to enforce at any time any provision of this Agreement shall in no
way be construed to be a waiver of that provision or of any other provision hereof. 
 22. Entire Agreement. This
Agreement and Article V of the Shareholders Agreement (as modified herein) and the Plan contain the entire agreement and understanding among the parties as to the subject matter hereof and supersede all prior writings or understandings with respect
to this Option. Participant acknowledges that any summary of the Plan, this Agreement or any portion thereof that may be provided by the Company from time to time is subject in its entirety to the terms of the Plan and this Agreement. References
herein or in the Plan to this Agreement include references to any Exhibits. 
 23. Headings. Headings are used solely for
the convenience of the parties and shall not be deemed to be a limitation upon or description of the contents of any such Section. 
 24. Counterparts. This Agreement may be executed in any number of counterparts, including via facsimile or PDF, each of which shall be deemed to be an original and all of which together shall be
deemed to be one and the same instrument. 
 25. Amendment. Except as otherwise provided in the Plan or
Section 15. no amendment or modification of this Agreement shall be valid unless it shall be in writing and signed by all parties hereto. 
 26. Acknowledgements and Representations. Participant is acquiring this Option and, if and when exercised, will acquire Option Shares, solely for Participant’s own account, for investment
purposes only, and not with a view to or an intent to sell or distribute, or to offer for resale in connection with any unregistered distribution, all or any portion of this Option or the Option Shares within the meaning of the Securities Act and/or
any applicable state securities laws. Participant has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of this Option and the restrictions imposed on this Option and the Option Shares.
Participant has been furnished with, and/or has access to, such information as he considers necessary or appropriate for deciding whether to accept this Option. However, in evaluating the merits and risks of an investment in the Company, Participant
has and will rely solely upon the advice of his/her own legal counsel, tax advisors, and/or investment advisors. Participant understands that the Option Shares will be characterized, absent their registration, as “restricted securities”
under the federal securities laws, and that, under such laws and applicable regulations, such securities may be resold without registration under the Securities Act only in certain limited circumstances, including in accordance with the conditions
of Rule 144 promulgated under the Securities Act. Participant has read and understands the restrictions and limitations set forth in the 

  
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Plan and this Agreement that are imposed on this Option and the Option Shares. Participant confirms that he has not relied on any warranty, representation, assurance or promise of any kind
whatsoever in entering into this Agreement other than as expressly set out in this Agreement or in the Plan. 
 27. Tag Along
Rights. To the extent that a majority of the partners who contributed limited partnership interests to an Affiliate of the Company on July 13, 2007 (the “Contributors”) are provided tag along rights in connection with any
private transfer by Leon D. Black, Marc J. Rowan or Joshua J. Harris (the “Founders”) or any of their respective Groups, of any Class A Shares or AOG Units (a “Private Transfer”), Participant will be provided
tag along rights with respect to such Private Transfer subject to the same terms and conditions as generally apply to the Contributors. For purposes of clarity, only Option Shares received upon exercise of an Option (and not unexercised Options) may
be sold in a tag-along transaction. As used in this Award Agreement, the term “AOG Units” shall have the meaning generally ascribed to it by the Company in its communications with investors and “Group” shall have
the meaning provided in the Company’s Shareholders Agreement dated as of July 13, 2007 (the “Shareholders Agreement”), as the same may be amended from time to time. The Company shall determine the application of this
Section 27 in good faith. 
 28. Preemptive Rights. 

(a) If the Company or any of its Subsidiaries offers New Securities to a Founder Group or to any of its Affiliates (the aggregate number
of New Securities being offered, the “New Issuance”) then, subject to the terms hereof, the Company shall, before any sale of New Securities pursuant to such offer, deliver to Participant an offer (the “Preemptive
Offer”) to issue to Participant, at Participant’s election, up to such number of New Securities equal to its Preemptive Proportionate Percentage of the New Issuance upon the terms set forth in this Section 28 (such New
Securities, the “Participant New Securities”), it being understood that if Participant accepts a Preemptive Offer in accordance with Section 28(b), the number of New Securities ultimately issued to the Founder Group or
any of its Affiliates under this Section 28 shall equal the New Issuance less the applicable number of Participant New Securities and other Apollo Securities issued pursuant to similar preemptive rights. The Preemptive Offer shall
state (i) that Apollo proposes to issue the New Issuance and specify their number and terms (including the purchase price per New Security) and (ii) Participant’s Preemptive Proportionate Percentage. The Preemptive Offer shall remain
open and be irrevocable for a period of fifteen (15) days from the date of its delivery (the “Preemptive Offer Period”). For purposes of this Section 28, “Preemptive Proportionate Percentage” means,
with respect to Participant, a fraction (expressed as a percentage), (x) the numerator of which is the number of Class A Shares held by Participant’s Group immediately prior to the consummation of the New Issuance (calculated on an
as-converted basis assuming all Options held by Participant or his Group have been exercised for Class A Shares irrespective of vesting) and (y) the denominator of which is the aggregate number of Class A Shares outstanding
immediately prior to the consummation of the New Issuance (calculated on a fully-diluted basis and assuming all AOG Units have been exchanged for Class A Shares). As used in this Award Agreement, “Apollo Securities” means
Class A Shares and AOG Units, and “New Securities” means Apollo Securities other than securities issued in connection with any of the following: (i) pursuant to an equity incentive plan or other compensation arrangements
of the Company or any member of the Apollo Operating Group for the benefit of the employees, directors or consultants of the Company or any of its Affiliates; (ii) issued upon the exercise, conversion or exchange of any options, warrants or any
other derivative or convertible securities of the Company or the Apollo Operating Group (including, Class A Shares issuable upon the exchange of AOG Units) that were issued in compliance with this Agreement or on or prior to the date hereof; or
(iii) issued in connection with a stock dividend or upon a stock split, recapitalization or other subdivision of equity securities. 

  
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 (b) Participant (and/or members of his Group designated by Participant) may accept the
Preemptive Offer by delivering to Apollo a notice (the “Purchase Notice”) within the Preemptive Offer Period. The Purchase Notice shall state the number of New Securities Participant desires to purchase which in no event may exceed
the number of Participant New Securities. The Purchase Notice shall be irrevocable, and Participant (and/or members of his Group designated by Participant) shall purchase the New Securities at the same time as the Founder Group(s) acquire the New
Issuance less any portion of the New Issuance which Participant agreed to purchase pursuant to this Section 28 or other Persons agreed to acquire pursuant to other rights similar to those set forth in this Section 28.

 29. Registration Rights. 
 (a) The Company agrees that, unless Participant and his Group are given equivalent provisions, no modifications, waivers, or additional agreements shall be made to the registration rights provisions of
Article V of the Shareholders Agreement that benefit (x) at least two-thirds of the Contributors and their Groups or (y) any Founder or any member of any Founder’s Group. Participant shall have the right, on his behalf and on behalf
of his Group, to waive the rights afforded pursuant to the immediately preceding sentence. 
 (b) Participant will have the
rights set forth under Article V of the Shareholders Agreement as if Participant were a Shareholder thereunder holding Registrable Securities (as such term is defined therein). Any cutbacks shall be determined as provided in the Shareholders
Agreement. The Company agrees to give notification to Participant of the availability of any registrations under Article V of the Shareholders Agreement in order to participate in a registration thereunder. If Participant wishes to sell in a
registration Option Shares, Participant shall provide notice thereof to the Company in writing pursuant to a Demand, Piggyback Notice or Shelf Notice (as those terms are defined in the Shareholders Agreement). Participant may not sell in a
registration Option Shares in an amount greater than the product of (I) the Option Shares, and (II) the Reference Percentage. The “Reference Percentage” means, as of the date of a registration under Article V of the
Shareholders Agreement, the average of the percentages previously sold by each of the Founders and Contributors (including sales by their respective Groups), including sales effected by AP Professional Holdings, L.P. or any other entity on behalf of
the Founders or Contributors and/or their respective Groups, of his combined AOG Units and Class A Shares (calculated on a fully-diluted basis and assuming all AOG Units have been exchanged for Class A Shares, disregarding any vesting
requirements or restrictions on transfer and excluding from the number sold any Class A Shares a Founder or Contributor was able to sell in advance of his regular vesting schedule due to his employment termination by reason of death, disability
or a Termination without Cause or for Good Reason). As applied to Participant, the phrase “at least seventy-five (75) days prior to such Quarterly Exchange Date in which such Requesting Shareholder expects to request an Exchange to obtain
the Registrable Securities to be sold in such registration” as it appears in Article V of the Shareholders Agreement shall instead be deemed to read “at least seventy-five (75) days prior to the registration in which such Requesting
Shareholder expects to sell the Registrable Securities.” In no event shall the rights of Participant under the Shareholders Agreement be superior to the rights of a Contributor with respect to the Shareholders Agreement. 

30. Access to Books, Records and Financial Information. Participant shall have the right, upon reasonable request for purposes
reasonably related to the interest of Participant as an employee or service provider to the Company or any of its Affiliates, to inspect, during normal business hours, the Company’s books and records (including such financial and other
information relating to the Company or any other Person in which the Company directly or indirectly owns an interest) for so long as Participant is in Service to the Company or any of its Affiliates; provided, however, that the Company shall
have the right to keep confidential from Participant, for such period of time as the Company deems reasonable, any information the Company reasonably believes to be in the nature of trade secrets or other information the 

  
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disclosure of which the Company in good faith believes is not in the best interest of the Company or could damage the Company or its business (or any of the Company’s Affiliates or their
businesses) or which the Company or an Affiliate is required by law or by agreement with a third party to keep confidential; provided, further, that Participant shall not have any right to inspect or review the Agreement Among
Principals (by and among the Founders), any Contributor’s roll-up agreement or similar agreement, or the ownership percentages of any limited partners of AP Professional Holdings, L.P. All requests for information or access shall be made in
writing and shall specify the reasons for such request. The Company shall have twenty (20) business days to respond to such request (or such longer period as may be reasonable under the circumstances given the volume or complexity of the
request). Participant shall reimburse the Company for all reasonable expenses incurred by it in order to provide such information or access (including expenses necessary to provide such information or access in a manner that is prudent in order to
protect the interests of the Company and its Affiliates). The Company shall have no obligation to generate information that does not exist nor to organize information in a format that does not exist. The Company shall not have to respond to more
than one request in any thirty (30) day period made by Participant, provided that one request may include more than one deliverable. The rights of Participant pursuant to this Section 30 shall expire when Participant no
longer owns an interest in the Company or upon Participant’s Termination Date if earlier. Participant acknowledges and agrees that he and the Company have bargained for and agreed to the provisions of this Section 30 and any other
provisions of this Agreement which restrict access to information, that such provisions constitute a fundamental element of their agreement relating to the affairs of the Company and its Affiliates, and that such provisions limit rights of
inspection otherwise available. 
 31. Electronic Delivery. The Company may, in its sole discretion, decide to deliver
any documents related to the Option or Option Shares (or future options that may be granted under the Plan) and participation in the Plan by electronic means or to request Participant’s consent to participate in the Plan by electronic means.
Participant hereby consents to receive such documents by electronic delivery and, if requested, to agree to participate in the Plan through an on-line or electronic system established and maintained by the Company or a third party designated by the
Company. 
 32. Effect of Agreement. Participant acknowledges receipt of a copy of the Plan and represents that he is
familiar with the terms and provisions thereof (and has had an opportunity to consult counsel regarding the Option terms), and hereby accepts this Option and agrees to be bound by its contractual terms as set forth herein and in the Plan.
Participant hereby agrees to accept as binding, conclusive and final all decisions and interpretations of the Administrator regarding any questions relating to this Option or Option Shares. In the event of a conflict between the terms and provisions
of the Plan and the terms and provisions of this Agreement, the Plan terms and provisions shall prevail. 
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Intentionally Left Blank] 

  
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 WHEREFORE, this Agreement is executed as of the Grant Date by Participant and the Company.

  

							
	PARTICIPANT:	 		 	APOLLO GLOBAL MANAGEMENT, LLC
				
	 /s/ Henry Silverman
	 		 	By:	 	 /s/ John J. Suydam

	Signature	 		 		 	
				
	  
	 		 	Title:	 	  
 Vice
President

	Henry Silverman	 		 		 	

  
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 EXHIBIT A 

Restrictive Covenants 
 Capitalized terms first used in this Exhibit A and not elsewhere defined shall have the meanings set forth in paragraph (g) below. 

(a) Prior to resigning from Participant’s employment or service with the Company or any of its Affiliates, Participant shall provide
90 days' notice to such entity. 
 (b) Participant agrees that during the Protected Period, Participant shall not, directly or
indirectly, either as a principal, agent, employee, employer, consultant, partner, member, shareholder of a closely or privately held corporation or shareholder in excess of five (5) percent of a publicly traded corporation, corporate officer
or director, or in any other individual or representative capacity, engage or otherwise participate in any manner or fashion in any business that is a Competing Business, in the Restricted Territory; provided that Participant shall not
be deemed to be engaging or participating in a Competing Business if Participant provides services to a subsidiary, division or Affiliate of a Competing Business if such subsidiary, division or Affiliate is not itself engaged in a Competing Business
and Participant does not provide services to, or have any responsibilities regarding, the Competing Business. 
 (c) Participant
agrees that during the Protected Period, Participant shall not, directly or indirectly, (i) solicit or induce any investors, financing sources or capital market intermediaries of the Company or its successors, assigns or Affiliates to terminate
(or diminish in any respect) his, her or its relationship with the Company or its successors, assigns or Affiliates, or for any other reason, or (ii) otherwise interfere with or damage (or attempt to impede or otherwise interfere with or
damage) any business relationship and/or agreement to which the Company or any Affiliate thereof is a party, including without limitation any such relationship with any of the Company's or an Affiliate’s respective clients, investors,
customers, suppliers or partners. Nothing in this paragraph applies to those investors, financing sources, capital market intermediaries or business relations who did not conduct business with the Company, or its successors, assigns or Affiliates
during either Participant’s employment or service with, or the period in which Participant held (directly or indirectly) an ownership interest in, the Company or any of its Affiliates. This provision shall not prohibit Participant from
soliciting or hiring his personal assistant or assistants at the time of his departure. 
 (d) Participant agrees that during
the Protected Period, other than in the ordinary course of the good faith performance of Participant’s duties with the Company or its Affiliates, Participant shall not, directly or indirectly, (i) solicit or induce any officer, director,
employee, agent or consultant of the Company or any of its successors, assigns or Affiliates to terminate his, her or its employment or other relationship with the Company or its successors, assigns or Affiliates for the purpose of associating with
any Competing Business, or otherwise encourage any such Person to leave or sever his, her or its employment or other relationship with the Company or its successors, assigns or Affiliates, for any other reason, or (ii) hire any such individual
who left the employ or service of the Company or any of its Affiliates during the immediately preceding 12 months. 
 (e)
Participant will not disclose or use at any time, either prior to Participant’s Termination Date or thereafter, any Confidential Information (as defined below) of which Participant is or becomes aware, whether or not such information is
authored or developed by Participant, except to the extent that (i) such disclosure or use is directly related to and required by Participant’s performance of duties to the Company or any of its Affiliates, or (ii) such disclosure is
legally required to be made; provided, that Participant shall provide ten (10) days' prior written notice, if practicable, to the Company of such disclosure so that the Company may seek a protective order or similar remedy;
and provided, further, that, in each case set forth above, Participant informs the recipients that such information or communication is confidential in nature. Except to the extent publicly disclosed, Participant acknowledges and
agrees that this Share Option Agreement and the provisions hereof constitute Confidential Information of the Company and its Affiliates and that any documents, information or reports received by Participant from the Company and its Affiliates shall
be treated as confidential and proprietary 

 
information of the Company and its Affiliates. The obligations set forth in paragraphs (b), (c) and (d) of this Exhibit A provide further protection of Confidential Information.
Nothing contained herein shall preclude Participant from disclosing Confidential Information to Participant’s personal legal and financial advisor(s), provided that Participant informs such advisor(s) that the information is confidential
in nature and receives assurances that the advisor(s) shall not disclose such information except as required by law. 
 (f)
Participant agrees that Participant shall not, either prior to Participant’s Termination Date or thereafter, directly or indirectly, make or ratify any statement, public or private, oral or written, to any Person that disparages, either
professionally or personally, the Company or any of its Affiliates, past and present, as well as its and their trustees, directors, officers, members, managers, partners, agents, attorneys, insurers, employees, stockholders, representatives,
assigns, and successors, past and present, whether collectively or individually. 
 (g) For purposes of this Exhibit A.
the following definitions are applicable: 
 (i) “Competing Business” means (i) any
alternative asset management business (other than the business of the Company, its successors or assigns or Affiliates) in which more than 50% of the total capital committed is third party capital, that advises, manages or invests the assets of
and/or makes investments in private equity funds, hedge funds, collateralized debt obligation funds, business development corporations, special purpose acquisition companies or other alternative asset investment vehicles, or (ii) any other
business engaged in by or on behalf of the Persons who manage, advise or own such investment vehicles. If Participant is employed by an investment bank, nothing contained in this Share Option Agreement shall preclude Participant from providing bona
fide investment banking services to a Competing Business on behalf of such investment bank. 
 (ii)
“Confidential Information” means information that is not generally known to the public and that is or was used, developed or obtained by the Company and its Affiliates, including but not limited to, (A) information,
observations, procedures and data obtained by Participant while employed by or providing services to the Company or any of its Affiliates, (B) products or services, (C) costs and pricing structures, (D) analyses, (E) performance
data, (F) computer software, including operating systems, applications and program listings, (G) flow charts, manuals and documentation, (H) data bases, (I) accounting and business methods, (J) inventions, devices, new
developments, methods and processes, whether patentable or unpatentable and whether or not reduced to practice, (K) investors, customers, vendors, suppliers and investor, customer, vendor and supplier lists, (L) other copyrightable works,
(M) all production methods, processes, technology and trade secrets, (N) this Share Option Agreement and the governing agreements of the Company and its Affiliates, (O) investment memoranda and investment documentation concerning any
potential, actual or aborted investments, (P) compensation terms, levels, and arrangements of employees and other service providers of the Company and its Affiliates, and (Q) all similar and related information in whatever form.
Confidential Information will not include any information that is generally available to the public prior to the date Participant proposes to disclose or use such information. 

(iii) “Protected Period” means the period of Participant's Service and the period ending (x) six
(6) months after Participant's Termination of Service without Cause (including, for purposes of this clause (x), due to the refusal by an appropriate Company Affiliate to extend the Term for an additional year following expiration of the Term
in accordance with the terms of the Service Agreement), or (y) 12 months after Participant is no longer employed by or providing services as a partner to the Company or any of its Affiliates if Participant's termination of Service is for any
other reason. For purposes of clarity, the portion of the Protected Period that applies after Participant’s resignation commences only after the expiration of the notice period set forth in paragraph (a) of this Exhibit A.

 (iv) “Restricted Territory” means, during Participant’s employment or service, the
United States and any other place in the world where the Company or any of its Affiliates, successors or 

  
 2 

 
assigns engages in business and, following Participant's termination of Service, the United States and any other place in the world where at the date of such Termination the Company or any of its
Affiliates, successors or assigns engages in business. 
 (h) For purposes of the restrictive covenants set forth herein,
service to, or employment by, a Portfolio Company, shall not be deemed service to, or employment by, the Company or any of its Affiliates, and Portfolio Companies shall not be considered Affiliates of the Company. 

(i) Participant agrees and acknowledges that each restrictive covenant contained in this Exhibit A is reasonable as to duration,
terms and geographical area and that the same protects the legitimate interests of the Company and its Affiliates, imposes no undue hardship on Participant, is not injurious to the public, and that any violation of any of the restrictive covenants
contained in this Exhibit A shall, subject to Section 16 of the Share Option Agreement, be specifically enforceable in any court with jurisdiction upon short notice. If any provision of this Exhibit A as applied to Participant or
to any circumstance is adjudged by a court to be invalid or unenforceable, the same shall in no way affect any other circumstance or the validity or enforceability of any other provision of this Exhibit A. If the scope of any such provision,
or any part thereof, is too broad to permit enforcement of such provision to its full extent, Participant agrees that the court making such determination shall have the power to reduce the duration and/or area of such provision, and/or to delete
specific words or phrases, to the extent necessary to permit enforcement, and, in its reduced form, such provision shall then be enforceable and shall be enforced. Participant agrees and acknowledges that any such breach of any provision of this
Exhibit A will cause irreparable injury to the Company and its Affiliates, and upon breach of any provision of this Exhibit A. the Company and/or its Affiliates, as applicable, shall be entitled to injunctive relief, specific
performance or other equitable relief; provided, however, that this shall in no way limit any other remedies available to the Administrator, the Company or its Affiliates. Notwithstanding the foregoing, to the extent that a court of competent
jurisdiction makes a final determination that paragraph (b), (c) or (d) of this Exhibit A is unenforceable as a matter of law as applied to Participant, upon such determination the Company shall not seek to enjoin Participant from
engaging in an activity precluded by such provision (or to otherwise pursue proceedings to enforce such provision) but if the Administrator determines in good faith that Participant has breached such provision, Participant shall immediately forfeit
all rights to any unexercised Options without payment of any consideration in respect therefor. This Exhibit A shall specifically survive the termination of the Share Option Agreement of which it is a part. 

  
 3 

 EXHIBIT B 

NOTICE OF EXERCISE 
  

			
	To:	  	Apollo Global Management, LLC
	Attention:	  	Administrator of the 2007 Omnibus Equity Incentive Plan
	Subject:	  	Notice of Intention to Exercise Option

This Notice of Exercise constitutes official notice that the undersigned intends to exercise Participant’s option to purchase
             Class A Shares of Apollo Global Management, LLC, under and pursuant to the Company’s 2007 Omnibus Equity Incentive Plan (the “Plan”) and the
Notice of Option and Share Option Agreement (collectively, the “Agreement”) dated                     , as follows:

  

					
	Number of Shares:	  		  	
			
	Exercise Price per Share:	  		  	
			
	Total Exercise Price	  		  	
			
	Preferred Method of	  	Cash	  	To the extent permitted by the Administrator:
	Payment of Exercise Price (circle one and enclose if applicable):	  	  
 Check
	  	  
 Reduction of Shares issuable upon exercise by that number of whole
Shares having a Fair Market Value not greater than the aggregate Exercise Price (with any shortfall paid by cash or check)

			
		  		  	Surrender of previously-owned Shares

 The
shares should be registered in the name(s)1 of:

  

					
	  
	  	        	  	  

 By signing below, I hereby affirm that I am bound by all of the terms and conditions set forth in the Plan and the Agreement. If applicable, proof of my right to purchase the Option Shares pursuant to the
Plan and the Agreement is enclosed.2 

Dated:                      

 

					
	  
	 		  	  

	(Signature)	 		  	(Signature)3
		 		  	
	  
	 		  	  

	(Please Print Name)	 		  	(Please Print Name)
		 		  	
	  
	 		  	  

	  
  
	 		  	  
  

	(Full Address)	 		  	(Full Address)

  

	1	 If more than one name is listed, please specify whether the owners will hold the shares as community property or as joint tenants with the right of
survivorship. 

	2	 Applicable if someone other than Participant (e.g., a beneficiary at death) is exercising the Option. 

	3	 Each person in whose name shares are to be registered must sign this Notice of Exercise. 

  
 4Employment Agreement, between The Telx Group, Inc. and Eric Shepcaro

 Exhibit 10.33 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS EXECUTIVE EMPLOYMENT AGREEMENT (this
“Agreement”) is made and entered into this 1st day of January, 2011 between The Telx Group, Inc., a Delaware corporation (the “Company”), and Eric Shepcaro (“Executive”), and shall be effective
January 1, 2011 (the “Effective Date”). 
 1.0 RECITALS. 

1.1 The Company desires to employ the Executive, and the Executive desires to be so employed by the Company, on the terms and
subject to the conditions set forth in this Agreement. 
 1.2 As an executive officer of the Company, Executive shall
have access to valuable confidential and proprietary information used in the business of the Company, including financial data, customer data, operational data, trade secrets and other intellectual property that if disclosed to or used by
competitors or potential competitors would cause irreparable harm to the Company, and as a result, Executive and the Company desire to provide the Company with adequate protection from the unauthorized disclosure or use of the Company’s
confidential and proprietary information. 
 NOW, THEREFORE, in consideration of the foregoing facts, the mutual covenants and
agreements contained herein and other good and valuable consideration, the Company and Executive agree as follows: 
 2.0
DEFINITIONS. 
 2.1 Affiliate: “Affiliate” means, with respect to any party,
any corporation, limited liability company, partnership, joint venture, firm and/or other entity which Controls, is Controlled by or is under common Control with such party. 
 2.2 Board of Directors: “Board of Directors” shall mean the board of directors of the Company. 
 2.3 Business: “Business” means the operation of “MEET ME ROOMs” and network interconnection facilities for “Layer One” or “Layer Two”
interconnectivity. 
 2.4 Change in Control: “Change in Control” shall mean the first of
the following to occur after the Effective Date: 
 (i) Acquisition of Controlling Interest. Any person or entity (other
than persons who are employees at any time more than one year before a transaction) becomes the beneficial owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then
outstanding securities. In applying the preceding sentence, (I) securities acquired from the Company by or for the person or entity shall not be taken into 

 
account, and (II) an agreement to vote securities shall be disregarded unless its ultimate purpose is to cause what would otherwise be a Change in Control, as reasonably determined by the Board.

 (ii) Change in Board Control. During any consecutive two-year period commencing after the Effective Date, individuals
who constituted the Board of Directors at the beginning of the period (or their approved replacements, as defined in the next sentence) cease for any reason to constitute a majority of the Board of Directors. A new Director shall be considered an
“approved replacement” Director if his or her election (or nomination for election) was approved by a vote of at least a majority of the Directors then still in office who either were Directors at the beginning of the period or were
themselves approved replacement Directors, but in either case excluding any Director whose initial assumption of office occurred as a result of an actual or threatened solicitation of proxies or consents by or on behalf of any person or entity other
than the Board of Directors. 
 (iii) Merger. The Company consummates a merger, or consolidation of the Company with any
other corporation unless: (a) the voting securities of the Company outstanding immediately before the merger or consolidation would continue to represent (either by remaining outstanding or by being converted into voting securities of the
surviving entity) at least 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; and (b) no person or entity (other than persons who are
employees at any time more than one year before the transaction) becomes the beneficial owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding
securities. 
 (iv) Sale of Assets. The stockholders of the Company approve an agreement for the sale of disposition by
the Company of all, or substantially all, of the Company’s assets. 
 (v) Liquidation or Dissolution. The
stockholders of the Company approve a plan or proposal for liquidation or dissolution of the Company. 
 Notwithstanding the
foregoing, a “Change in Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the common stock of the Company
immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in any entity which owns all or substantially all of the assets of the Company immediately following such transaction or
series of transactions. 
 2.4 Code: “Code” means the Internal Revenue Code of 1986, as amended.

 2.5 Common Stock: “Common Stock” means common stock, par value $0.0001 per share, of the
Company. 
 2.6 Compensation Committee: “Compensation Committee” shall mean a committee of the
Board of Directors which has been delegated responsibility for employee compensation matters or, in the absence thereof, the entire Board of Directors. 

  
 -2-

 2.7 Confidential and Proprietary Information: “Confidential and
Proprietary Information” means all proprietary trade secrets and/or proprietary information and any information, concept or idea in whatever form, tangible or intangible, pertaining in any manner to the business of the Company or any
Affiliate of the Company, or to the Company’s (or any of the Company’s Affiliates’) customers, clients, consultants, Referral Sources (as defined below) or business associates, unless the information is or becomes publicly
known through lawful means (other than disclosure by Executive, unless such disclosure by Executive is made in good faith in the course of performing Executive’s duties under this Agreement, or with the express written consent of the Board of
Directors). As used herein, “Referral Source” means any person or entity that, directly or indirectly, refers customers or business to the Company. 
 2.8 Control: “Control” means (i) in the case of corporate entities, direct or indirect ownership of at least fifty percent (50%) of the stock or participating
assets entitled to vote for the election of directors; and (ii) in the case of non-corporate entities (such as individuals, limited liability companies, partnerships or limited partnerships), either (A) direct or indirect ownership of at
least fifty percent (50%) of the equity interest, or (B) the power to direct the management and policies of the noncorporate entity. 
 2.9 Covered Entity: “Covered Entity” means every Affiliate of Executive, and every business, association, trust, corporation, partnership, limited liability company,
proprietorship or other entity in which Executive has invested in (whether through debt or equity securities), or has contributed any capital or made any advances to, or in which any Affiliate of Executive has an ownership interest or profit sharing
percentage, or a firm from which Executive or any Affiliate of Executive receives or is entitled to receive income, compensation or consulting fees in which Executive or any Affiliate of Executive has an interest as a lender (other than solely as a
trade creditor for the sale of goods or provision of services that do not otherwise violate the provisions of this Agreement). The agreements of Executive contained herein specifically apply to each entity which is presently a Covered Entity or
which becomes a Covered Entity subsequent to the date of this Agreement. Notwithstanding anything contained in the foregoing provisions to the contrary, the term “Covered Entity” shall not include the Company, any subsidiary of the
Company, or any Affiliate of the Company or any such subsidiary. 
 2.10 Discharge For Cause: “Discharge
For Cause” shall mean termination of employment for any one or more of the following: (i) gross negligence or willful misfeasance demonstrated by Executive in the performance of his duties; (ii) refusal by Executive to perform
ethical and lawful duties assigned by the Board of Directors that continues uncured for fifteen (15) days following receipt of written notice from a majority of the Board of Directors or the Compensation Committee; (iii) Executive engaging
in any act of fraud or embezzlement which adversely affects the Company or any of its Affiliates (including, without limitation, the reputation of the Company or any of its Affiliates); (iv) Executive engaging in any act of dishonesty the
purpose or effect of which adversely affects the Company or any of its Affiliates (including, without limitation, the reputation of the Company or any of its Affiliates); (v) Executive breaching in any material respect any provision contained
in Section 3.2, 4.7 or 4.8 of this Agreement, which such breach is not cured within thirty (30) days after receipt of written notice from the Board of Directors (provided, however, such cure period shall not apply to any breaches of
Sections 4.7 or 4.8); (vi) Executive’s commitment of a felony or entering into a plea of guilty or nolo contendere (or its equivalent) to a felony; (vii) Executive’s commencement of employment with another

  
 -3-

 
company while he is an employee of the Company without the prior consent of the Board of Directors, (vii) any act of Executive involving moral turpitude that adversely affects
Executive’s ability to serve the Company, (viii) Executive’s violation of any federal, state or local law or regulation applicable to the Company, an Affiliate or their respective businesses that causes material injury to the Company
or any of its Affiliates (including, without limitation, the reputation of the Company or any of its Affiliates) or Employee’s intentional or knowing violation of any law or regulation applicable to the Company; or (ix) Executive’s
conduct that constitutes a material breach of any statutory or common law duty of loyalty to the Company or any of its Affiliates. 
 2.11 Discharge Without Cause: “Discharge Without Cause” shall mean the Company’s termination of Executive’s employment hereunder during the Term (as defined in
Section 4.1 below) for any reason other than a Discharge For Cause or due to Executive’s death or Permanent Disability. 
 2.12 Non-Compete Period: Non-Compete Period shall mean the Term plus a period of (i) eighteen (18) months in the event of a Discharge Without Cause, Termination for Good
Reason or termination due to the Permanent Disability of Executive, or (ii) in all other events, twelve (12) months. 

2.13 Permanent Disability: “Permanent Disability” shall mean Executive’s inability to perform
Executive’s duties hereunder due to a physical or mental condition for (a) a period of ninety (90) consecutive days or (b) an aggregate of one hundred twenty (120) days in any twelve (12) month period. 

2.14 Pro Rated Bonus: “Pro Rated Bonus” shall mean a bonus payment for the year during which
Executive’s employment terminates, pro-rated based on the number of days Executive was employed during such bonus period. Such bonus shall be determined based on the same criteria that would have applied absent Executive’s cessation of
employment and shall be payable at such time as the bonus would have normally been paid. Notwithstanding the forgoing, in the event Executive’s employment ceases due to a Discharge Without Cause, or Termination For Good Reason, in connection
with a Change in Control or during the twenty four (24) month period following a Change in Control, then Executive shall instead receive a prorated bonus based on the most recent bonus the Company paid to Executive prior to the date of such
cessation of employment, and such bonus shall be payable within 10 days following such termination. 
 2.15
Subsidiary: “Subsidiary” shall mean any corporation, trust, general or limited partnership, limited liability company, limited liability partnership, firm, company or other business enterprise which is Controlled by the
Company through direct ownership of the stock or other proprietary interests of such business enterprise or indirectly through the ownership of stock or other proprietary interests in one (1) or more other business enterprises which are
connected with the Company by means of one (1) or more chains of business enterprises that are connected by ownership of stock or other proprietary interests. 
 2.16 Termination For Good Reason: “Termination For Good Reason” shall mean voluntary resignation by Executive through the following actions: (1) the Executive provides
the Company with written notice of the existence of one of the events, arising without the 

  
 -4-

 
Executive’s consent, listed in clauses (A) through (D), below within thirty (30) days of the initial existence of such event; (2) the Company fails to cure such event within
thirty (30) days following the date such notice is received; and (3) the Executive elects to voluntarily terminate employment within the ninety (90) day period immediately following such event. The events include: (A) the Company
materially reduces Executive’s job title and position such that Executive is no longer Chief Executive Officer of the Company or no longer reports to the Board of Directors, (B) the Executive being required to relocate his place of
employment, other than a relocation within the greater New York City metropolitan area, or (C) a material reduction in the Executive’s Base Salary other than any such reduction consistent with a general reduction of pay across the
executive staff as a group, as an economic or strategic measure due to poor financial performance by the Company, or (D) in the event of the sale of substantially all of the assets of the Company, the purchaser of such assets does not assume
the obligations of the Company set forth in this Agreement. 
 2.17 Territory: “Territory” means
each and every state, county, city or other political subdivision or geographic location in the United States. 
 3.0
CAPACITIES AND DUTIES; INDEMNIFICATION. 
 3.1 Positions: Executive is hereby employed in the capacity
of Chief Executive Officer of the Company. Executive shall report to the Board of Directors. Executive shall be the highest ranking officer of the Company and shall have the same status, privileges and responsibilities normally inherent in such
capacity in corporations of similar size and character. Executive will at all times abide by the Company’s written personnel policies applicable to similarly situated employees of the Company as in effect from time to time and previously
provided to Executive, and will faithfully and to the best of Executive’s ability, experience and talents perform all of the duties that may be required of and from Executive pursuant to the terms hereof, consistent with Executive’s
positions as the Chief Executive Officer of the Company. 
 3.2 Exclusive Services; Other Representations: During
the Term, Executive agrees to devote Executive’s best efforts and full business time to rendering services to the Company; provided, however, that Executive shall be permitted to serve on the board of directors of various for-profit and
non-profit organizations, from time to time, provided (i) such organizations do not compete with the Business in the Territory and (ii) the time expended by Executive in rendering service to such organizations does not, in the aggregate,
materially impair Executive’s performance of his duties under this Agreement. Executive is specifically restricted from being employed by any other company, other than a Subsidiary or an Affiliate of the Company, while under the Company’s
employ pursuant to this Agreement. 
 3.3 Board Membership: For so long as Executive remains Chief Executive
Officer of the Company, to the extent consistent with the Board’s fiduciary duties, Executive shall be entitled to be nominated by the Company’s Board of Directors to serve on the Board of Directors. 

  
 -5-

 4.0 EMPLOYMENT, TERM, TERMINATION, CONFIDENTIAL INFORMATION, NON-COMPETE AND
NON-SOLICITATION. 
 4.1 Term: Subject to Sections 4.2, 4.3, 4.4, 4.5 and 4.6, the term of this Agreement
shall be three (3) years commencing on the Effective Date, unless terminated earlier pursuant to the terms herein (the “Initial Term”); provided that the Initial Term may be extended for additional periods (each, a
“Renewal Term”) on or prior to the expiration of the Initial Term or any such Renewal Term with the mutual agreement in writing of the Company and Executive. The Initial Term or, in the event that Executive’s employment
hereunder is terminated earlier pursuant to the terms herein or extended pursuant to this Section 4.1, such shorter or longer period, as the case may be, is referred to herein as the “Term.” 

4.2 Discharge For Cause: Executive’s employment under this Agreement may be terminated by the Company (subject to the
notice and cure period set forth in Section 2.11, if applicable), without further obligation by the Company, except for payment of any base salary compensation and expense reimbursement accrued and unpaid to the effective date of termination
and except as otherwise required by law, upon written notice to Executive of a Discharge For Cause. Such notification from the Company shall include such facts as shall be reasonably necessary to apprise Executive of the basis for such Discharge For
Cause and for Executive to exercise Executive’s right to cure under Section 2.10, if applicable. 
 4.3
Discharge Without Cause: Executive’s employment under this Agreement may be immediately terminated by the Company upon written notice to Executive of a Discharge Without Cause. Upon termination pursuant to this Section 4.3, for
good consideration (including the non-competition agreement described below), Executive shall be entitled to the following benefits (the “Without Cause Severance Package”): (i) continued monthly base salary payments (at the
rate in effect at the time of his Discharge Without Cause) for a period of eighteen (18) months from the date of such termination, (ii) a Pro Rated Bonus and (iii) reimbursement for COBRA health insurance costs for eighteen
(18) months or, if shorter, until Executive becomes covered by the group health plan of another employer. Other than the foregoing, Executive shall not be entitled to any payment hereunder for subsequent periods upon Executive’s Discharge
Without Cause. The Without Cause Severance Package (other than the Pro Rated Bonus)shall be payable to Executive in accordance with the Company’s general payroll practices as the same may exist from time to time following a Discharge Without
Cause. Notwithstanding the forgoing, in the event of Executive’s Discharge Without Cause in connection with a Change of Control or during the twenty four (24) month period following a Change in Control, such eighteen (18) months of
base salary severance shall be payable in a lump sum on the third business day following the expiration of the seven (7) day revocation period applicable to the Release attached hereto as Exhibit A (the “Release”). As a
condition to receiving the Without Cause Severance Package, Executive shall execute within 30 days after terminating employment (i) the Release and (ii) a non-competition and non-solicitation agreement having a term of at least eighteen
(18) months, and with terms and subject to conditions substantially similar to those contained in Section 4.8 of this Agreement. 
 4.4 Termination For Good Reason: Executive’s employment under this Agreement may be terminated by Executive (subject to the notice and cure period set forth in Section 2.15) upon
written notice to the Company of a Termination For Good Reason. Upon 

  
 -6-

 
termination pursuant to this Section 4.4, for good consideration (including the non-competition agreement described below), Executive shall be entitled to the following benefits (the
“Good Reason Severance Package”): (i) Executive shall receive continued monthly base salary payments (at the rate in effect at the time of his Termination for Good Reason) for a period of eighteen (18) months from the date
of such termination, (ii) a Pro Rated Bonus, and (iii) reimbursement for COBRA health insurance costs for eighteen (18) months (or, if shorter, until Executive becomes covered by the group health plan of another employer).
Other than the foregoing, Executive shall not be entitled to any payment hereunder for subsequent periods upon Executive’s Termination For Good Reason. The Good Reason Severance Package (other than the Pro Rated Bonus) shall be payable to
Executive in accordance with the Company’s general payroll practices as the same may exist from time to time following Executive’s termination of employment upon a Termination For Good Reason. Notwithstanding the forgoing, in the event of
Executive’s Termination For Good Reason in connection with a Change of Control or during the twenty four (24) month period following a Change in Control, such eighteen (18) months of base salary severance shall be payable in a lump
sum on the third business day following the expiration of the seven (7) day revocation period applicable to the Release. As a condition to receiving the Good Reason Severance Package, Executive shall execute within 30 days after terminating
employment (i) the Release and (ii) a non-competition and non-solicitation agreement having a term of at least eighteen (18) months, and with terms and subject to conditions substantially similar to those contained in Section 4.8
of this Agreement. 
 4.5 Termination Upon Death: This Agreement shall immediately terminate without action or
notice by either party upon the death of Executive and without further obligation by the Company, except for (i) payment of all amounts of base salary compensation and expense reimbursement accrued and unpaid to the effective date of
termination, (ii) a Pro Rated Bonus and (iii) as otherwise required by law. 
 4.6 Termination Upon
Permanent Disability: Executive’s employment under this Agreement may be immediately terminated by the Company upon written notice to Executive of a termination for the Permanent Disability of Executive. Upon termination pursuant to this
Section 4.6, and in return for the non-competition agreement described below, the Executive shall be entitled to receive (i) continued monthly base salary payments (at the rate in effect at the time of his termination for Permanent
Disability) for a period of twelve (12) months from the date of such termination and (ii) reimbursement for COBRA health insurance costs for twelve (12) months or, if shorter, until Executive becomes covered by the group health plan
of another employer (“Permanent Disability Severance Package”). The Permanent Disability Severance Package shall also include, in addition to the foregoing, all amounts of base salary compensation and expense reimbursement accrued
and unpaid to the effective date of termination. Payments made pursuant to the Permanent Disability Severance Package shall be reduced by the amount of any disability benefits paid during and for the same period to Executive under any disability
insurance policy provided by the Company as a benefit to Executive. The Permanent Disability Severance Package shall be payable to Executive in accordance with the Company’s general payroll practices as the same may exist from time to time
following a termination of Executive pursuant to this Section 4.6. As a condition to receiving the Permanent Disability Severance Package, Executive shall execute (i) the Release and (ii) a non-competition and non-solicitation
agreement having a term of at least eighteen (18) months and with terms and subject to conditions substantially similar to those contained in Section 4.8 of this Agreement. 

  
 -7-

 4.7 Confidential and Proprietary Information: Executive agrees that he will
not, either directly or indirectly, and Executive will not permit any Covered Entity which is Controlled by Executive to, either directly or indirectly, divulge to any person or entity or use any of the Confidential and Proprietary Information,
except (i) as required in connection with the performance of such Executive’s duties to the Company, (ii) as required to be included in any report, statement or testimony requested by any municipal, state or national regulatory body
having jurisdiction over Executive or any Covered Entity which is Controlled by Executive, (iii) as required in response to any summons or subpoena or in connection with any litigation, (iv) to the extent necessary in order to comply with
any law, order, regulation, ruling or governmental request applicable to Executive or any Covered Entity which is Controlled by Executive, (v) as required in connection with an audit by any taxing authority, or (vi) is made with the
express written consent of the Board of Directors. In the event that Executive or any such Covered Entity which is Controlled by Executive is required to disclose Confidential and Proprietary Information pursuant to the foregoing exceptions,
Executive shall promptly notify the Company of such pending disclosure and assist the Company (at the Company’s expense) in seeking a protective order or in objecting to such request, summons or subpoena with regard to the Confidential and
Proprietary Information. If the Company does not obtain such relief after a period that is reasonable under the circumstances, Executive (or such Covered Entity) may disclose that portion of the Confidential and Proprietary Information that such
party is advised by counsel that it is legally compelled to disclose or else stand liable for contempt or suffer censure or penalty. In such cases, Executive shall promptly provide the Company with a copy of the Confidential and Proprietary
Information so disclosed. Executive further agrees to execute the Company’s standard proprietary information and inventions assignment agreement or similar agreement. 
 4.8 Non-Compete and Non-Solicitation: 
 (a) Except as otherwise
explicitly permitted by the last sentence of this Section 4.8(a) of this Agreement, during the Non-Compete Period, Executive shall not, either directly or indirectly, individually or by or through any Covered Entity, participate in,
assist, aid or advise in any way, any business or enterprise that competes with the Business in the Territory (including, without limitation, providing services to any customer or other person or entity in the Territory). Except as otherwise
explicitly permitted by the last sentence of this Section 4.8(a) of this Agreement, during the Non-Compete Period, Executive shall not, either directly or indirectly, individually or by or through any Covered Entity, invest in (whether
through debt or equity securities), contribute any capital or make any advances to, take an ownership interest or profit-sharing percentage in, seek to purchase or acquire, or receive income, compensation or consulting fees from, any entity or
person involved in the Business in the Territory. Notwithstanding the foregoing, nothing contained in this Section 4.8(a) prohibits Executive or any Affiliate of Executive from owning (i) less than five percent (5%) of any class
of voting securities publicly held and quoted on a recognized securities exchange or inter-deal quotation system, of any issuer, and (ii) an immaterial amount of a Covered Entity as a result of a purchase decision made by a third party after
the Effective Date without the knowledge of Executive and no such issuer shall be considered a Covered Entity solely by virtue of such ownership or the incidents thereof. 
 (b) During the Non-Compete Period, Executive will not, either directly or indirectly and will not permit any Covered Entity which is Controlled by Executive to, either

  
 -8-

 
directly or indirectly, (i) solicit, or take any other action that is intended to solicit, the business of any customers or Referral Sources with which the Company or any of its Affiliates
conducts business or receives referrals or has conducted business or received referrals within the 12 months preceding such solicitation or other action; or (ii) hire, solicit, take away, or attempt to hire, solicit or take away (either on such
Executive’s behalf or on behalf of any other person or entity) any person (1) who is then an employee of the Company or any Affiliate of the Company; or (2) who has terminated his or her employment with the Company or any Affiliate of
the Company within the 12 months preceding such hiring, solicitation or other action. 
 (c) Executive agrees that if his
employment terminates during or after the Term under circumstances that do not involve his collection of a Without Cause Severance Package, Good Reason Severance Package, or Permanent Disability Severance Package, then the Company shall have the
right but not the obligation to elect to enforce the provisions of this Section 4.8 after expiration of the Term; provided that (i) not later than ten (10) days after the Executive’s termination of employment, the Company
provides the Executive with a written notice of its election to enforce the Executive’s compliance with this Section 4.8 from the date of his employment termination through the end of the Non-Compete Period, and (ii) in consideration
of such post-Term enforcement right, the Company shall pay Executive his monthly salary, at the rate in effect when his employment terminates (or at expiration of the Term if greater), on or before the end of each month that begins after his
employment terminates and before the first day of month after the end of the Non-Compete Period (all of such payments being the “Post-Term Severance Package”). 

(d) Executive agrees that the payment of any amount of any Without Cause Severance Package, Good Reason Severance Package, Permanent
Disability Severance Package, or Post-Term Severance Pay is conditioned on Executive’s compliance with this Section 4.8 and that the Company will have the right to cease making further payments if Executive breaches this Section 4.8.
In the event the Company makes any payment(s) with respect to a Without Cause Severance Package, Good Reason Severance Package, or Permanent Disability Severance Package after Executive has breached this Section 4.8 and the Company is unaware
of such breach at the time such payment(s) are made (the “Post-Breach Payments”), then Executive shall promptly return the Post-Breach Payments to the Company. 
 4.9 Enforcement; Remedies: Executive agrees and acknowledges that the Company has a valid and legitimate business interest in protecting the Business in the Territory from any activity
prohibited by Section 4.7 or 4.8 of this Agreement. Executive acknowledges that Executive’s expertise in the Business is of a special and unique character which gives this expertise a particular value, and that a breach of Section 4.7
or 4.8 of this Agreement by Executive will cause serious and potentially irreparable harm to the Company. Executive therefore acknowledges that a breach of Section 4.7 or 4.8 of this Agreement by Executive cannot be adequately compensated in an
action for damages at law, and equitable relief would be necessary to protect the Company from a violation of this Agreement and from the harm which this Agreement is intended to prevent. By reason thereof, Executive acknowledges that the Company is
entitled, in addition to any other remedies it may have under this Agreement or otherwise, to preliminary and permanent injunctive and other equitable relief to prevent or curtail any breach of this Agreement without any requirement to post bond.
Executive acknowledges, however, that no specification in this Agreement of a particular legal or equitable remedy may be construed as a 

  
 -9-

 
waiver of or prohibition against pursuing other legal or equitable remedies in the event of a breach of this Agreement by Executive. 

4.10 Clawback. Executive’s bonuses and other incentive-based compensation and profits on stock sales shall be subject
to potential disgorgement pursuant to Section 304 of the Sarbanes-Oxley Act of 2002, but only to the extent Section 304 is applicable to the Executive following an initial public offering of the Company’s common stock pursuant to a
registration statement declared effective by the Securities and Exchange Commission. 
 4.11 Tolling. In the event
of a breach by Executive of any covenant set forth in Section 4.8 hereof, the running of the period of restriction shall be automatically tolled and suspended for the amount of time that the breach continues, and shall automatically recommence
when the breach is remedied so that the Company shall receive the full benefit of Executive’s compliance with the covenants. 
 5.0 COMPENSATION AND BENEFITS. For Executive’s services, the Company agrees to pay Executive compensation as follows: 

5.1 Salary: Base compensation equal to an annual salary of $340,000 is to be paid according to the Company’s general
payroll practices as same may exist from time to time. Executive’s base compensation will be subject to annual reviews and increases as approved by the Board of Directors or Compensation Committee. 

5.2 Annual Bonus: Executive shall be eligible to receive an annual target bonus of $340,000, payable annually in the
discretion of the Board of Directors. Any annual bonus payments shall be prorated based on Executive’s duration of service in such year; provided, however, no bonus will be payable to Executive in the event of a Discharge for Cause or the
resignation by Executive (other than resignation upon expiration of the Term or through Termination For Good Reason). In addition, at the discretion of the Board of Directors and/or the Compensation Committee, Executive may receive annual grants of
stock options and/or restricted stock. 
 5.3 Reimbursement of Expenses: The Company shall reimburse Executive for
any reasonable business expenses incurred by Executive in the ordinary course of the Company’s business in accordance with the Company’s reimbursement policies then in effect. These expenses shall be substantiated by invoices and receipts,
to be submitted by Executive within thirty (30) days after incurrence, with all reimbursements being made within one year after Executive incurs the underlying expense. 
 5.4 Benefits: During the Term, Executive shall be entitled to receive all benefits of employment generally available to the Company’s other executive employees to the extent Executive
is eligible for them, including, at a minimum, medical, dental and disability insurance and participation in the Company’s 401(k) plan, except to the extent that such participation in any benefits plan would, in the opinion of the Board of
Directors, alter the intended tax treatment of such plan. 
 5.5 Vacation: Executive shall be entitled to five
weeks of vacation per each calendar year of service. 

  
 -10-

 5.6 Withholding: Executive authorizes the Company to make any and all
applicable withholdings of federal and state taxes and other items the Company may be required to deduct, as such items may exist under this Agreement or otherwise from time to time. 

6.0 SUCCESSORS AND ASSIGNS. This Agreement is intended to bind and inure to the benefit of and be enforceable by Executive,
the Company and their respective heirs, successors and assigns, except that Executive shall not have any right to assign or otherwise transfer this Agreement or any of Executive’s rights, duties or any other interest herein (except in
connection with any assignment of rights to receive consideration hereunder by or to Executive’s estate made upon the death of Executive) to any party without the prior written consent of the Company, and any such purported assignment shall be
null and void. Notwithstanding the foregoing, the Company may without obtaining the consent of Executive, assign any or all of its rights and obligations under this Agreement to any of its Affiliates or to its lenders as collateral security. To the
extent that the Company assigns its rights and obligations hereunder, the Company shall not be relieved of its obligations hereunder in respect of any such assignment. 
 7.0 SURVIVAL OF RIGHTS AND OBLIGATIONS. The rights and obligations of the parties as stated herein shall survive the termination of this Agreement. 

8.0 ENTIRE AGREEMENT. 
 8.1 Sole Agreement: This Agreement (including any attachments and exhibits hereto) contains the parties’ sole and entire agreement regarding the subject matter hereof, and supersedes
any and all other agreements, understandings, statements and representations of the parties, including, but not limited to, any employment agreement or other agreement regarding Executive’s compensation or terms of employment entered into prior
to the Effective Date. For the avoidance of doubt, the parties acknowledge that the foregoing sentence shall not be applicable prior to the Effective Date. Notwithstanding the forgoing, any Proprietary Information and Inventions Agreement (or
similar agreement), or Indemnification Agreement, previously executed by the Executive shall remain in full force and effect. 

8.2 No Other Representations: The parties acknowledge and agree that, except for those representations specifically
referenced herein, no party has made any representations (a) concerning the subject matter hereof or (b) inducing the other party to execute and deliver this Agreement. The parties have relied on their own judgment in entering into this
Agreement. 
 9.0 MODIFICATIONS OR WAIVERS. Waivers or modifications of this Agreement, or of any covenant,
condition, or limitation contained herein, are valid only if in writing duly executed by the parties hereto. 
 10.0
GOVERNING LAW. This Agreement shall be governed pursuant to the laws of the State of New York, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws. 

11.0 SEVERABILITY. In the event that any provision or term of this Agreement, or any word, phrase, clause, sentence or
other portion thereof (including, without limitation, the geographic and temporal restrictions and provisions contained in this Agreement) is held to be unenforceable or invalid for any reason, such provision or portion thereof will be modified or

  
 -11-

 
deleted in such a manner as to make this Agreement, as modified, legal and enforceable to the fullest extent permitted under applicable laws. 

12.0 INTERPRETATION; SECTION HEADINGS. The section and subsection heading of this Agreement are included for purposes of
convenience only, and shall not affect the construction or interpretation of any of its provisions. 
 13.0
NOTICES. All notices and other communications under or in connection with this Agreement shall be in writing and shall be deemed given (i) if delivered personally, upon delivery, (ii) if delivered by registered or certified mail
(return receipt requested), upon the earlier of actual delivery or three (3) days after being mailed, (iii) if given by overnight courier with receipt acknowledgment requested, the next business day following the date sent, or
(iv) if given by facsimile or telecopy, upon confirmation of transmission by facsimile or telecopy, in each case to the parties at the following addresses: 
  

			
	To the Company:	  	The Telx Group, Inc.
		  	c/o GI Partners Fund II, L.P.
		  	       GI Partners Side Fund II, L.P.
		  	2730 Sand Hill Road, Suite 280
		  	Menlo Park, CA 94025
		  	Facsimile: (650) 233-3601
		  	Attention: Howard Park
		
		  	and to
		
		  	Dan Schulman
		  	27 Valley View Road
		  	Warren, NJ 07059
		  	Facsimile: (908) 604-4636
		
	with a copy to:	  	Paul, Hastings, Janofsky & Walker LLP
		  	875 15th Street, N.W.
		  	Washington, D.C., 20005
		  	Facsimile: (202) 551-0180
		  	Attention: Mark Poerio, Esq.
		
	To Executive:	  	Eric Shepcaro
		  	60 Fair Hill Drive
		  	Westfield, New Jersey 07090

  
 -12-

			
	with a copy to:	  	Epstein, Englert, Staley & Coffey
		  	425 California Street, 17th Floor
		  	San Francisco, CA 94104
		  	Facsimile: (415) 398-6938
		  	Attention: Samuel R. Coffey

 14.0
JOINT PREPARATION. All parties to this Agreement have negotiated it at length, and have had the opportunity to consult with and be represented by their own competent counsel. This Agreement is therefore deemed to have been jointly
prepared by the parties, and any uncertainty or ambiguity existing in it shall not be interpreted against any party, but rather shall be interpreted according to the rules generally governing the interpretation of contracts. 

15.0 THIRD-PARTY BENEFICIARIES. No term or provision of this Agreement is intended to be, or shall be, for the benefit of
any person, firm, organization, corporation or entity not a party hereto, and no such other person, firm, organization, corporation or entity shall have any right or cause of action hereunder. 

16.0 ARBITRATION. 
 (a) Any controversy, claim or dispute involving the parties (or their affiliated persons or entities) directly or indirectly concerning this Agreement, or the subject matter thereof, shall be finally
settled by arbitration held in New York, New York by one (1) arbitrator in accordance with the rules of employment arbitration then followed by the American Arbitration Association or any successor to the functions thereof. The arbitrator
shall apply New York law in the resolution of all controversies, claims and disputes and shall have the right and authority to determine how his or her decision or determination as to each issue or matter in dispute may be implemented or enforced.
Any decision or award of the arbitrator shall be final and conclusive on the parties to this Agreement and their respective Affiliates, and there shall be no appeal therefrom other than from gross negligence or willful misconduct. Notwithstanding
the foregoing, claims regarding worker’s compensation and unemployment compensation benefits shall not be subject to arbitration under this Agreement. The Company shall bear all costs of the arbitrator in any action brought under this
Section 16.0. 
 (b) The parties hereto agree that any action to compel arbitration pursuant to this Agreement may be
brought in any appropriate state court in New York, and in connection with such action to compel, the laws of New York shall control. Application may also be made to such court for confirmation of any decision or award of the arbitrator, for an
order of the enforcement and for any other remedies which may be necessary to effectuate such decision or award. The parties hereto hereby consent to the jurisdiction of the arbitrator and of such court and waive any objection to the jurisdiction of
such arbitrator and court. 
 (c) Notwithstanding the foregoing, the Company shall be entitled to seek injunctive relief, in
any court of competent jurisdiction, to enforce this Agreement and this Section 16.0 shall not limit the right of the Company to seek judicial relief pursuant to Section 4.9 of this Agreement without prior arbitration. 

  
 -13-

 17.0 COOPERATION AND FURTHER ACTIONS. The parties agree to perform any and all
acts and to execute and deliver any and all documents necessary or convenient to carry out the terms of this Agreement. Both during and following the termination of Executive’s employment with the Company, for no additional consideration,
Executive agrees to assist the Company and its Affiliates with respect to litigation or other third party claims relating to the period of Executive’s employment. The Company shall pay any out of pocket expenses incurred by Executive in
connection with his rendering of such assistance. 
 18.0 ATTORNEYS’ FEES. In the event of any dispute
related to or based upon this Agreement, the prevailing party shall be entitled to recover from the other party its reasonable attorneys’ fees and costs. 
 19.0 COUNTERPARTS. This Agreement may be executed in one or more counterparts, including electronically transmitted counterparts, each of which shall be deemed an original and all of which
shall be considered one and the same instrument. 
 20.0 INTERNAL REVENUE CODE SECTION 409A. Notwithstanding any
provision of this Agreement to the contrary, if all or any portion of the payments and/or benefits under this Agreement are determined to be “nonqualified deferred compensation” subject to Section 409A of the United States Internal
Revenue Code of 1986, as amended (the “Code”), and the Company determines that Executive is a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Code and the final regulations promulgated thereunder
(the “Treasury Regulations”) and other guidance issued thereunder, then such payments and/or benefits (or portion thereof) shall be paid no earlier than the first day of the seventh month following Executive’s termination of
employment, with any affected payments being made within ten business days after the end of such period of delay. For purposes of the Without Cause Severance Pay, a termination of employment shall only be deemed to occur if such termination
constitutes a “separation from service”, as defined in Section 1.409A-1(h) of the Treasury Regulations, including the default presumptions thereunder. The parties acknowledge and agree that, to the extent applicable, this Agreement
shall be interpreted in accordance with, and the parties agree to use their best efforts to achieve timely compliance with, Section 409A of the Code, and the Department of Treasury Regulations and other interpretive guidance issued thereunder
(“Section 409A”), including without limitation any such regulations or other guidance that may be issued after the Effective Date. 
 21.0 INTERNAL REVENUE CODE SECTION 280G. To the extent that due to the application of Internal Revenue Code Section 280G, reducing the benefits payable to Executive hereunder would
increase the overall after tax proceeds to Executive, such benefits shall be reduced in a manner designed to produce the maximum after tax proceeds for Executive (including, if applicable, reducing Executive’s cash payments prior to canceling
equity or option acceleration benefits). 
 22.0 MITIGATION WITH RESPECT TO SEVERANCE AMOUNTS. Subject to the
terms and conditions of this Agreement, in the event that Executive is entitled under this Agreement to receive the Without Cause Severance Package, Good Reason Severance Package, Permanent Disability Severance Package, or Post-Term Severance
Package, as applicable, such severance amounts to which Executive is entitled (subject to the terms and conditions of this 

  
 -14-

 
Agreement, including, without limitation, Section 4.8(d) hereof) shall not be reduced as a result of any duty to mitigate damages or by the amount of compensation Executive receives from
other employers during the period in which such severance amounts are paid. 
 [SIGNATURE PAGE FOLLOWS] 

  
 -15-

 [SIGNATURE PAGE TO EXECUTIVE EMPLOYMENT AGREEMENT] 

IN WITNESS WHEREOF, the parties hereto have executed, or caused their duly authorized representatives to execute, this Agreement as of
the date first set forth above. 
  

			
	The Telx Group, Inc.
	a Delaware corporation
		
	By:	 	         /s/ Christopher Downie

	Name:	 	Christopher Downie
	Title:	 	President & CFO
	
	Executive
	
	     /s/ Eric Shepcaro

	Eric Shepcaro

 EXHIBIT A 

FORM OF RELEASE 

 RELEASE 
 In exchange for good and valuable consideration set forth in that certain Executive Employment Agreement (the “Executive Employment Agreement”) between the undersigned, Eric Shepcaro
(“Executive”), and The Telx Group, Inc., a Delaware corporation (“Telx”), the sufficiency of which is hereby acknowledged, Executive, on behalf of himself, his executors, heirs, administrators, assigns and anyone
else claiming by, through or under Executive, irrevocably and unconditionally, releases, and forever discharges Telx, GI Partners Fund II, L.P., GI Partners Side Fund II, L.P. and their respective predecessors, successors and related and affiliate
entities, including parents and subsidiaries, and each of their respective directors, officers, employees, attorneys, insurers, agents and representatives (collectively, the “Company”), from, and with respect to, any and all debts,
demands, actions, causes of action, suits, covenants, contracts, wages, bonuses, damages and any and all claims, demands, liabilities, and expenses (including, without limitation, attorneys’ fees and costs) whatsoever of any name or nature both
in law and in equity (severally and collectively, “Claims”) that Executive now has, ever had or may in the future have against the Company by reason of any matter, cause or thing that has happened, developed or occurred, and any
Claims that have arisen, before the signing of this Release, including but not limited to, any and all Claims in tort or contract, whether by statute or common law, and any Claims relating to salary, wages, bonuses and commissions, the breach of an
oral or written contract, unjust enrichment, promissory estoppel, misrepresentation, defamation, and interference with prospective economic advantage, interference with contract, wrongful termination, intentional and negligent infliction of
emotional distress, negligence, breach of the covenant of good faith and fair dealing, and Claims arising out of, based on, or connected with Executive’s employment by the Company and the termination of that employment as set forth in the
Executive Employment Agreement, including, without limitation, any Claims for unlawful employment discrimination of any kind, whether based on age, race, sex, disability or otherwise, including specifically and without limitation, claims arising
under or based on Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act, as amended; the Civil Rights Act of 1991; the Family and Medical Leave Act; the Americans with Disabilities Act; the Fair Labor
Standards Act; the Employee Retirement Income Security Act of 1974; the Equal Pay Act of 1963; and any other local, state or federal equal employment opportunity or anti-discrimination law, statute, policy, order, ordinance or regulation affecting
or relating to Claims that Executive ever had, now has, or claims to have against the Company. 
 Executive understands and
agrees that the releases provided above extend to all Claims released above whether known or unknown, suspected or unsuspected. Executive expressly waives and releases any rights and benefits which he has or may have under any law or rule of any
jurisdiction pertaining to the matters released herein. It is the intention of Executive through this Agreement and with the advice of counsel to fully, finally and forever settle and release the Claims set forth above. In furtherance of such
intention, the releases herein given shall be and remain in effect as full and complete releases of such matters notwithstanding the discovery of any additional Claims or facts relating thereto 

Executive warrants and represents that Executive has not assigned or transferred to any person or entity any of the Claims released by
this Release, and Executive agrees to defend (by counsel of the Company’s choosing), and to indemnify and hold harmless, the Company from and 

 
against any claims based on, in connection with, or arising out of any such assignment or transfer made, purported or claimed. 

Notwithstanding anything to the contrary in this Release or the Executive Employment Agreement, the foregoing release shall not cover,
and Executive does not intend to release, (i) any rights of indemnification under Telx’s certificate of incorporation, as amended (the “Certificate”), bylaws, as amended (the “Bylaws”) or any
indemnification agreement entered into between the Company and Executive ( the “Indemnification Agreement”), as applicable, (ii) any obligations of Telx to pay Executive pursuant to the Without Cause Severance Package (as defined in
the Executive Employment Agreement), Good Reason Severance Package (as defined in the Executive Employment Agreement) or Permanent Disability Severance Package (as defined in the Executive Employment Agreement), as applicable, pursuant to Sections
4.3, 4.4 or 4.6, as applicable, of the Executive Employment Agreement, or (iii) Executive’s rights with respect to Executive’s accrued salary since Telx’s last payroll, accrued bonus rights with respect to a completed year,
accrued business expenses reimbursement or existing group insurance plans or ERISA plans of Telx, in each case to the extent provided in Telx’s applicable policies and not previously paid. Executive further acknowledges that Telx’s
obligations under the Certificate or Bylaws are conditioned upon receipt by Telx of an undertaking by Executive to repay the amount if it shall be determined by a court of competent jurisdiction that Executive is not entitled to be indemnified by
Telx under the Certificate, Bylaws or Indemnification Agreement. 
 EXECUTIVE HAS READ THIS RELEASE AND BEEN PROVIDED A FULL
AND AMPLE OPPORTUNITY TO STUDY IT, AND EXECUTIVE UNDERSTANDS THAT THIS IS A FULL, COMPREHENSIVE AND RELEASE AND INCLUDES ANY CLAIM UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT. EXECUTIVE ACKNOWLEDGES THAT EXECUTIVE HAS BEEN ADVISED IN WRITING TO
CONSULT WITH LEGAL COUNSEL BEFORE SIGNING THIS RELEASE AND THE EXECUTIVE EMPLOYMENT AGREEMENT, AND EXECUTIVE HAS CONSULTED WITH AN ATTORNEY. EXECUTIVE WAS GIVEN A PERIOD OF AT LEAST TWENTY-ONE DAYS TO CONSIDER SIGNING THIS RELEASE, AND EXECUTIVE HAS
SEVEN DAYS FROM THE DATE OF SIGNING TO REVOKE EXECUTIVE’S ACCEPTANCE BY DELIVERING TIMELY NOTICE OF HIS REVOCATION TO THE BOARD OF DIRECTORS OF THE TELX GROUP, INC. AT ITS PRINCIPAL PLACE OF BUSINESS. EXECUTIVE IS SIGNING THIS RELEASE
VOLUNTARILY, WITHOUT COERCION, AND WITH FULL KNOWLEDGE THAT IT IS INTENDED, TO THE MAXIMUM EXTENT PERMITTED BY LAW, AS A COMPLETE AND FINAL RELEASE AND WAIVER OF ANY AND ALL CLAIMS. EXECUTIVE ACKNOWLEDGES AND AGREES THAT THE PAYMENTS SET FORTH IN
THE EXECUTIVE EMPLOYMENT AGREEMENT ARE CONTINGENT UPON EXECUTIVE SIGNING THIS RELEASE AND WILL BE PAYABLE ONLY IF AND AFTER THE REVOCATION PERIOD HAS EXPIRED. 
 [SIGNATURE PAGE(S) TO FOLLOW] 

 Executive has read this Release, fully understand it and freely and knowingly agree to its
terms. 
 Dated this      day of
                , 20    . 
  

	
	  

	  Signature
	
	  

	  Printed Name

  

			
	AGREED AND ACCEPTED:
	
	The Telx Group, Inc.
		
	By:	 	  

		
	Title:	 	  

		
	Date:

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