0001104659-12-079316 Sample Contracts

SHUTTERSTOCK, INC. RESTRICTED STOCK AGREEMENT
Restricted Stock Agreement • November 20th, 2012 • Shutterstock, Inc. • Services-computer processing & data preparation • New York

THIS RESTRICTED STOCK AGREEMENT (the “Agreement”) is made between Thilo Semmelbauer (the “Shareholder”) and Shutterstock, Inc. (the “Company”) or its assignees of rights hereunder as of October 5, 2012.

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