Entercom Communications Corp. and American Stock Transfer & Trust Company, LLC as Rights Agent Rights Agreement Dated as of April 20, 2020Rights Agreement • April 21st, 2020 • Entercom Communications Corp • Radio broadcasting stations • Pennsylvania
case, together with a copy of this Summary of Rights. The Agreement provides that any person who beneficially owned 10% or more of the Class A Common Stock immediately prior to the first public announcement of the adoption of the Agreement, together with any affiliates and associates of that person (each an “Existing Holder”), shall not be deemed to be an “Acquiring Person” for purposes of the Agreement unless the Existing Holder becomes the beneficial owner of one or more additional shares of Class A Common Stock (other than pursuant to a dividend or distribution paid or made by the Company on the outstanding Class A Common Stock in Class A Common Stock or pursuant to a split or subdivision of the outstanding Class A Common Stock). However, if upon acquiring beneficial ownership of one or more additional shares of Class A Common Stock, the Existing Holder does not beneficially own 10% or more (15% or more in the case of a passive institutional investor) of the Class A Common Stock the
