Document:

Document

						
		

Exhibit 10(iii)(A)(61)

The Interpublic  
Restricted Cash Plan

Restatement Effective November 12, 2020

Interpublic Restricted Cash Plan                                                1

INTERPUBLIC RESTRICTED CASH PLAN 

TABLE OF CONTENTS
                                                                                                           Page

Article I            Introduction................................................................................................. 3
Article II        Definitions and Rules of Construction........................................................ 3
Article III        Eligibility and Terms of Awards................................................................. 5
Article I            Vesting and Payment of Restricted Cash Awards....................................... 5
Article V        Administration and Recordkeeping............................................................. 6
Article VI        Miscellaneous.............................................................................................. 7

Interpublic Restricted Cash Plan                                                2

INTERPUBLIC RESTRICTED CASH PLAN

ARTICLE I    INTRODUCTION

1.1    PURPOSE. The Interpublic Group of Companies, Inc. (“Interpublic”) has established and maintains this Restricted Cash Plan to attract, retain, and motivate employees of exceptional ability.

1.2    EFFECTIVE DATE. The Plan, as amended and restated herein, applies for Restricted Cash Awards granted on or after the effective date on the cover page.

1.3    LEGAL STATUS. The Plan is a bonus program within the meaning of 29 C.F.R. § 2510.3-2(c), and therefore is not subject to the Employee Retirement Income Security Act of 1974, as amended.

ARTICLE II    DEFINITIONS AND RULES OF CONSTRUCTION

2.1    DEFINITIONS. The following terms, as used herein, have the following meanings, unless a different meaning is implied by the context:

a.AFFILIATE has the meaning set forth in the Applicable PIP.

b.APPLICABLE PIP means, with respect to any Restricted Cash Award, the plan document for The Interpublic Group of Companies, Inc. Performance Incentive Plan under which long-term incentive awards may be granted as of the date on which such Restricted Cash Award is granted.

c.AWARD LETTER means a letter or memorandum from Interpublic to a Participant that sets forth the terms of a Restricted Cash Award. If any provision of an Award Letter expressly conflicts with a provision of this Plan document, the provision of the Award Letter shall control.

d.BENEFICIARY means any person or persons so designated by the Participant in a manner determined by the Plan Administrator. If no Beneficiary has been designated under the applicable procedures or no individual designated as a Beneficiary survives the Participant, the Participant’s Beneficiary shall be the Participant’s estate. In order to be effective, any designation of a Beneficiary must be filed with the Plan’s recordkeeper before the Participant’s death.

e.BOARD means Interpublic’s Board of Directors, or the Compensation Committee thereof.

f.CAUSE means, with respect to any Participant:

i.A material breach by the Participant of a provision in an employment agreement with Interpublic or an Affiliate that, if capable of being cured, has not been cured within 15 days after the Participant receives written notice from his or her Employer of such breach;

ii.Misappropriation by the Participant of funds or property of Interpublic or an Affiliate;

iii.Any attempt by the Participant to secure any personal profit related to the business of Interpublic or an Affiliate that is not approved in writing by the Board or by the person to whom the Participant reports directly;

iv.Fraud, material dishonesty, gross negligence, gross malfeasance, or insubordination by the Participant, or material (1) failure by the Participant to follow the code of conduct of Interpublic or an Affiliate or (2) misconduct by the Participant in the performance of his or her duties as an employee of Interpublic or an Affiliate, excluding in each case any act (or series of acts) taken in good faith by the Participant that does not (and in the aggregate do not) cause material harm to Interpublic or an Affiliate;

Interpublic Restricted Cash Plan                                                3

v.Refusal or failure by the Participant to attempt in good faith to perform his or her duties as an employee or to follow a reasonable good-faith direction of the Board or the person to whom the Participant reports that has not been cured within 15 days after the Participant receives written notice from his or her Employer of such refusal or failure;

vi.Commission by the Participant, or a formal charge or indictment alleging commission by the Participant, of a felony or a crime involving dishonesty, fraud, or moral turpitude; or

vii.Conduct by the Participant that is prohibited by the policy of Interpublic or an Affiliate prohibiting discrimination or harassment based on age, gender, race, religion, disability, national origin or any other protected category.

g.CHANGE OF CONTROL has the meaning set forth in the Applicable PIP.

h.CODE means the Internal Revenue Code of 1986, as amended.

i.DISABILITY has the meaning set forth in the Applicable PIP.

j.ELIGIBLE EMPLOYEE has the meaning set forth in the Applicable PIP.

k.EMPLOYER means, with respect to an Eligible Employee, Interpublic or the Affiliate of Interpublic that employs the Eligible Employee.

l.INTERPUBLIC means The Interpublic Group of Companies, Inc., and any successor to the Interpublic Group of Companies, Inc.

m.OUTSIDE AUDITOR means a national auditing firm engaged by Interpublic at Interpublic’s expense.

n.PARTICIPANT means an Eligible Employee or former Eligible Employee who has commenced participation in the Plan and whose vested benefit under the Plan has not been paid in its entirety.

o.PLAN means the Interpublic Restricted Cash Plan, as set forth herein and amended from time to time.

p.PLAN ADMINISTRATOR means Interpublic’s Management Human Resources Committee.

q.RESTRICTED CASH AWARD means an award granted pursuant to Article III hereof. A Restricted Cash Award gives the recipient the right to receive cash in the future, subject to certain vesting and other conditions set forth in the Award Letter.

r.UNSECURED TRUST means a trust established pursuant to a trust agreement or other written instrument that (i) states that the assets of such trust are subject to claims of the Employer’s creditors, (ii) states that such trust shall be irrevocable until all claims for benefits under the plans, programs, agreements, and other arrangements covered by such trust have been satisfied, and (iii) complies with the applicable requirements of Section 409A of the Code.

2.2    RULES OF CONSTRUCTION. For purposes of the Plan, unless the contrary is clearly indicated by the context:

a.The use of the masculine gender shall also include within its meaning the feminine and vice versa;

b.The use of the singular shall also include within its meaning the plural and vice versa;

c.The word “include” shall mean to include, but not to be limited to; and

d.Any reference to a statute or section of a statute shall further be a reference to any successor or amended statute or section, and any regulations or other guidance of general applicability issued thereunder.
Interpublic Restricted Cash Plan                                                4

ARTICLE III    ELIGIBILITY AND TERMS OF AWARDS

3.1    AUTHORITY TO GRANT RESTRICTED CASH AWARDS. From time to time, the Board or the Plan Administrator may grant a Restricted Cash Award to any Eligible Employee.

3.2    ELIGIBILITY FOR RESTRICTED CASH AWARDS. Eligibility to receive a Restricted Cash Award shall be determined by the Board or the Plan Administrator in its sole discretion.

3.3    TERMS OF RESTRICTED CASH AWARDS. The terms of any Restricted Cash Award, including the amount, vesting conditions, and payment date, shall be set forth in an Award Letter. The terms of any Award Letter shall be determined on a case-by-case basis by the Board or the Plan Administrator.

ARTICLE IV    VESTING AND PAYMENT OF RESTRICTED CASH AWARD

4.1    VESTING AND FORFEITURE.

a.Each Restricted Cash Award shall be subject to the vesting conditions set forth in the applicable Award Letter, which may include achievement of specified performance objectives, continued service for a specified period, compliance with the terms of an agreement regarding confidentiality, non-competition and/or non-solicitation, or a combination thereof. Unless otherwise expressly provided in the Award Letter:

i.Except to the extent that vesting is accelerated pursuant to paragraph (ii), (iii), or (iv), below, a Participant’s right to receive payment of any Restricted Cash Award shall be contingent upon (A) the Participant remaining employed by Interpublic or an Affiliate until a date set forth in the Award Letter, and (B) the Participant’s executing an agreement regarding confidentiality, non-competition, and non-solicitation with terms that are acceptable to Interpublic.

ii.In the event that a Participant is involuntarily terminated without Cause within the two years immediately following a Change of Control, all of the Participant’s Restricted Cash Awards then outstanding (and not previously forfeited) shall immediately become fully vested as of the date on which the Participant’s employment is terminated, and any performance conditions shall be deemed achieved at the target level set forth in the applicable Award Letter.

iii.To the extent provided in an applicable Award Letter, vesting shall be accelerated upon a Participant’s death or Disability.

iv.The Plan Administrator shall have discretion, on a case-by-case basis, to accelerate vesting of a Restricted Cash Award to the extent permitted by the Applicable PIP.

b.If a Participant terminates employment with Interpublic and its Affiliates before any portion of a Restricted Cash Award becomes vested, the unvested portion shall be forfeited. No portion of any Restricted Cash Award that is forfeited shall be reinstated, even if the former Participant is subsequently rehired by Interpublic or an Affiliate.

4.2    PAYMENT DATE. Each vested Restricted Cash Award shall be paid at the time prescribed by the Award Letter.

4.3    DEATH. If a Participant dies before the full amount of any outstanding (and not forfeited) Restricted Cash Award is paid, the vested portion of such Restricted Cash Award, determined in accordance with Section 4.1(a), above, shall be paid to his Beneficiary at the time prescribed by the Award Letter.

4.4    UNSECURED TRUST. Before a Change of Control, Interpublic shall contribute to an Unsecured Trust an amount equal to the value of the sum of all benefits that would become payable under the Plan if every Participant employed by Interpublic and/or any other Employer immediately before the Change of Control terminated employment involuntarily, and without Cause, immediately after the Change of Control. The amount 
Interpublic Restricted Cash Plan                                                5

to be contributed shall be determined by the Outside Auditor, in its best judgment (considering the information available to the Outside Auditor at the time of the calculation and the time constraints on completing the calculation).

ARTICLE V    ADMINISTRATION AND RECORDKEEPING

5.1    PLAN ADMINISTRATION.

a.The Plan Administrator shall have responsibility for the operation and administration of the Plan and shall direct payment of Plan benefits. Except as otherwise expressly provided herein, the Plan Administrator shall have the sole responsibility for and the sole control of the operation, administration and record-keeping of the Plan, and shall have the full discretionary power and authority to take any action and to make all decisions and interpretations which may be necessary or appropriate in order to administer and operate the Plan, including the discretionary power, duty, and responsibility to:

i.Resolve and determine all disputes or questions arising under the Plan, including the power to determine the rights of Participants and Beneficiaries, and their respective benefits, and to remedy any ambiguities, inconsistencies or omissions, in the Plan;

ii.Adopt such rules of procedure and regulations as in its opinion may be necessary for the proper and efficient administration of the Plan and as are consistent with the Plan;

iii.Implement the Plan in accordance with its terms and the rules and regulations adopted as above; and

iv.Make determinations concerning the crediting and distribution of Participants’ Accounts.

b.No provision of the Plan shall be construed to give the Plan Administrator any fiduciary responsibility with respect to any Participant or Beneficiary.

5.2    AMENDMENT, SUSPENSION, AND TERMINATION.

a.Subject to the restrictions set forth in this Section 5.2, the Board or any person duly authorized by resolution of the Board may, pursuant to a written instrument, amend, suspend, or terminate the Plan at any time, retroactively or prospectively; provided that—

i.No amendment shall materially change any term of an existing Award Letter in a way that is adverse to the Participant without the Participant’s consent; and

ii.No amendment shall change the time or form of payment of any benefits under the Plan unless the change will not trigger adverse federal tax consequences for any Participant or Beneficiary.

b.In addition, Interpublic’s Management Human Resources Committee may amend the Plan to the extent that it deems necessary or desirable:

i.To improve the administration of the Plan, so long as such amendment does not materially affect the substance of the Plan or the level of benefits the Plan provides, and

ii.To comply with any applicable federal, state, or local law (including any tax law that could result in adverse tax consequences to any Participant or Beneficiary, or Interpublic or any Affiliate).

5.3    DESIGN DECISIONS. Decisions regarding the design of the Plan, eligibility to participate in the Plan, and the level of benefits provided to any Participant shall be made in a settlor capacity. Any decision or action related to determining eligibility to participate in the Plan, the level of benefits provided to any Participant, modifying, altering, amending, or terminating the Plan shall be taken on behalf of Interpublic as sponsor of the Plan.

Interpublic Restricted Cash Plan                                                6

ARTICLE VI    MISCELLANEOUS

6.1    PAYMENTS TO BE MADE IN CASH. All payments required by this Plan shall be made in cash.

6.2    OBLIGATION TO MAKE PAYMENTS. All payments required by the Plan shall be made by Interpublic; provided, that Interpublic may cause another party, such as an Affiliate, to make the payment.

6.3    AUTHORITY TO DETERMINE PAYMENT DATE. To the extent that any payment under the Plan may be made within a specified number of days on or after any date or the occurrence of any event, the date of payment shall be determined by Interpublic in its sole discretion, and not by any Participant, Beneficiary, or other individual.

6.4    TAX WITHHOLDING. Interpublic or its designee shall be entitled to withhold from any payment under the Plan, and/or from other amounts payable, an amount that it determines is required to be withheld to satisfy all federal, state, and other governmental requirements related to the payment and imputed wages under the Plan. The Participant or Beneficiary, as the case may be, shall bear all taxes on amounts paid or accrued under the Plan to the extent that taxes are not withheld, irrespective of whether withholding is required.

6.5    SUCCESSORS TO THE COMPANY. Interpublic shall require any successor (whether direct or indirect, by merger, consolidation, sale of stock or assets, or otherwise) to the business or assets of Interpublic expressly, absolutely, and unconditionally to assume the Plan and to administer the Plan in accordance with its terms.

6.6    NO ASSIGNMENT OR ALIENATION. No benefits payable under the Plan shall be subject to alienation, sale, transfer, assignment, pledge, attachment, garnishment, lien, levy, or like encumbrance. No benefit under the Plan shall in any manner be liable for or subject to the debts or liabilities of any person entitled to benefits under the Plan.

6.7    NO CONTRACT OF EMPLOYMENT. The Plan shall not constitute a contract of employment between any Participant or other individual and Interpublic, or any of its Affiliates. Nothing in the Plan shall give a Participant or any other individual the right to be retained in the service of Interpublic or any Affiliate, or to interfere with the right of any Interpublic or any Affiliate to discipline or discharge a Participant or other individual at any time.

6.8    LIMITATIONS ON LIABILITY. Neither the establishment nor amendment of the Plan, the award of any Restricted Cash, nor the payment of any benefits under the Plan, shall be construed as giving to any Participant or any other individual any legal or equitable right against Interpublic or any of its Affiliates, except as required by law or by any Plan provision. Without limiting the foregoing, neither Interpublic nor any of its Affiliates guarantees that the Plan will be effective to defer taxation under federal, state, or local law.

6.9    UNFUNDED PLAN. The Plan is intended to be and at all times shall be operated and administered as an unfunded plan. No provision of the Plan shall be interpreted so as to give any individual any right in any assets of Interpublic or any Affiliate that is greater than the rights of any general, unsecured creditor of Interpublic or such Affiliate.

6.10    GOVERNING LAW. The Plan shall be construed, administered, and regulated in accordance with the laws of the state of New York, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction.

6.11    SECTION 409A OF THE CODE. 
a.The Plan and each award hereunder shall be operated, administered, and interpreted consistently with the intent to comply wit (or to be exempt from) the requirements of Section 409A of the Code.  If the Plan Administrator or Interpublic determines that any provision of the Plan or an Award Letter is or might be inconsistent with the restrictions imposed under Section 409A, the Plan shall be automatically amended (without further action) to the extent that the Plan Administrator or Interpublic determines is necessary to bring it into compliance with the requirements of Section 409A of the Code.  No provision of the Plan or any Award Letter shall be interpreted or construed to transfer any liability for a failure to comply with the 
Interpublic Restricted Cash Plan                                                7

requirements of Section 409A of the Code from a Participant or other individual to Interpublic or to any Affiliate, the Plan Administrator, or to any other entity or individual affiliated with Interpublic or its Affiliates.

b.For any Participant who, as of his or her separation from service (within the meaning of Section 409A(a)(2)(A)(i) of the Code), is a “specified employee” (within the meaning of Section 409A(a)(2)(B)(i) of the Code, as determined by Interpublic in accordance with Treas. Reg. § 1.409A-1(i)), the payment date for any Restricted Cash Award that is subject to Section 409A and for which the payment trigger is the Participant’s separation from service shall be no earlier than the Participant’s Delayed Start Date.  For purposes of the Plan, the Participant’s Delayed Start Date shall be the earlier of (i) Interpublic’s first pay date for the seventh calendar month that starts after the Participant’s separation from service or (ii) a date determined by Interpublic that is within 90 days after the Participant’s death.

c.Unless otherwise expressly provided, references in the Plan or in an Award Letter to “termination of employment” shall mean the Participant’s “separation from service” within the meaning of Section 409A.

6.12    SEVERABILITY. If any provision of the Plan is held to be illegal or void, the illegality or invalidity of that provision shall not affect the remaining provisions of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provisions had never been included in the Plan.

6.13    COMPLETE STATEMENT OF PLAN. This Plan document contains a complete statement of its terms and supersedes all prior versions of the Plan document. No other evidence, whether written or oral, shall be taken into account in interpreting the provisions of the Plan. In the event of any conflict between a provision in this Plan document and any booklet, brochure, presentation, or other communication (whether written or oral), the provision of this Plan document shall control.
*          *          *

Interpublic Restricted Cash Plan                                                8

IN WITNESS WHEREOF, Interpublic has caused this restatement of the Plan to be executed on this 12th day of November, 2020.

By:         /s/Andrew Bonzani            
Andrew Bonzani             
Executive Vice President, General Counsel & Secretary
Interpublic Restricted Cash Plan                                                9Document

Exhibit 10(iii)(A)(62)

THE INTERPUBLIC RESTRICTED CASH PLAN
 
 
THE INTERPUBLIC GROUP OF COMPANIES, INC., a Delaware corporation (the "Company"), hereby grants to the Participant named below a restricted cash award (the "Award"). The terms and conditions of the Award are set forth in this Award Agreement (the "Agreement") and in The Interpublic Restricted Cash Plan (the "Plan"), which is attached hereto as Exhibit A. This Agreement is the Award Letter referenced in the Plan. 
 
						
	Date of Award

[DATE]
	                                          Participant's Name     

                                          [NAME]

	Amount to be Paid Upon Vesting	$[X]
	Vesting Date	Subject to the (i) terms of the Plan, (ii) the forfeiture, cancellation, and rescission provisions of this Agreement and (iii) Participant's execution of the restrictive covenant agreement that is attached hereto as Exhibit B, the scheduled Vesting Date is as provided in the Participant’s award letter.

Except as otherwise provided in this Agreement or the Plan, if the Participant ceases to be an employee of the Company and its Affiliates before any portion of this Award becomes vested, the unvested portion shall be forfeited. Under all circumstances, vesting of the award is subject to the Participant's execution of this Agreement and Exhibit B.
	Payment Date	Subject to the vesting conditions set forth herein and the terms of the Plan, the Amount set forth above shall be paid to the Participant during the calendar year in which the Vesting Date occurs, subject to the following:
•If the Participant dies before the Vesting Date, the Amount set forth above shall be paid within 90 days after the Participant’s death; and
•If the Participant’s employment terminates within 24 months after a Change of Control (and before the Vesting Date), the Amount set forth above will be paid (to the extent vested) at the time prescribed by the Change of Control provisions of this Agreement.  

 
The provisions of the Plan are incorporated herein by reference. All capitalized terms that are not defined in this Agreement have the meanings set forth in the Plan. Except as otherwise expressly provided in this Agreement, in case of any conflict between this Agreement and the Plan, the terms of the Plan shall control.
 
Please (i) review the rest of this Agreement, the Addendum and the Plan document and the restrictive covenant agreement attached hereto as Exhibit B, and (ii) execute this Agreement and Exhibit B by checking the box below.  Under all circumstances, the grant and vesting of the Award is conditioned upon the Participant's execution of this Agreement and Exhibit B.  If the Participant fails to execute this Agreement, the Award shall be void and ineffective.
 
By clicking “Accept” below, you are effectively executing and agree to be bound by the terms and conditions of (i) this Agreement (including the terms under "Forfeiture of Award" and “Cancellation and Rescission”) and (ii) the restricted covenant agreement attached hereto as Exhibit B. 

The Interpublic Group of Companies, Inc.

Kenneth Lareau 
Senior Vice President, Global Executive Compensation and Benefits

THE INTERPUBLIC RESTRICTED CASH PLAN  RESTRICTED CASH AWARD AGREEMENT

The following terms and conditions supplement the terms of the Plan:

						
	Payment of Award	The vested Award shall be paid on the Payment Date set forth in the cover page, in local currency by the Employer via local payroll.
	Tax Withholding	The Company or the Employer will withhold income and employment taxes, in an amount determined by the Company or the Employer, when the Award is paid. Regardless of any action the Company or the Employer takes with respect to any or all income tax (including U.S. federal, state and local taxes and/or non-U.S. taxes), social insurance, payroll tax, payment on account or other tax–related withholding (“Tax-Related Items”), the Participant acknowledges that the ultimate liability for all Tax–Related Items legally due by the Participant is and remains the Participant's responsibility and may exceed the amount actually withheld. Neither the Company nor the Employer: (a) make any representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Award, including the grant of the Award, the vesting or settlement of the Award; or (b) commit to structure the terms of the grant or any aspect of the Award to reduce or eliminate the Participant's liability for Tax-Related Items.

If the Participant's country of residence (and/or country of employment, if different) requires withholding of Tax-Related Items, the Company may withhold a sufficient portion of the Actual Payment amount equal to the amount of Tax-Related Items required to be withheld. If the obligation for Tax-Related Items is satisfied by withholding a sufficient portion of the Actual Payment Amount, for tax purposes, the Participant will be deemed to have received the gross Actual Payment Amount, notwithstanding that a portion of the Actual Payment Amount is held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of the Participant’s participation in the Plan. If the Participant relocates to another jurisdiction, the Participant is responsible for notifying the Company of such relocation and is responsible for compliance with all applicable tax requirements. If the Participant is subject to taxation in more than one jurisdiction, the Participant acknowledges that the Company or the Employer may be required to withhold or account for Tax-Related Items in more than one jurisdiction.  By accepting this Award, the Participant expressly consents to the withholding methods as provided for hereunder or any other method permitted by applicable law and under the Plan. All other Tax-Related Items related to the Award and cash delivered in settlement thereof are the Participant’s sole responsibility. None of the Company, the Employer, or any of their Affiliates shall be responsible for any liability or penalty relating to taxes (including excise taxes) on compensation (including imputed compensation) or other income attributed to the Participant (or a Beneficiary) pursuant to this Agreement, whether as a result of the Participant failing to make timely payments of tax or otherwise.

	Change of Control	This Award shall not vest or become immediately payable merely upon the occurrence of a Change of Control.  However, if prior to the Vesting Date and within 24 months after the Change of Control, the Participant’s employment with the Company and Affiliates is terminated involuntarily and without Cause, then this Award shall become immediately vested and payable to the Participant, and the Payment Date shall occur within 30 days after the Participant’s separation from service with the Company and Affiliates (subject to the six-month delay rule set forth in Section 6.11 of the Plan). If the Participant has “good reason” rights under the Company’s Executive Severance Plan or an employment agreement, resignation for good reason (in accordance with the applicable good reason provisions) shall be treated as an involuntary termination.

						
	Death or Disability	If the Participant terminates service due to Disability or death, the Participant shall vest in a portion of the Award as determined in accordance with the below:

The vested portion of the Award shall equal a fraction (not to exceed 1.0), the numerator of which is the Participant’s number of completed months of service with the Company and its Affiliates from the Date of Award to the Participant’s date of termination, and the denominator of which is the number of months from the Date of Award to the scheduled Vesting Date.
	Compliance with Local Laws	If the Participant is a resident of or employed in a country other than the United States, the Participant agrees to take any and all actions, and consents to any and all actions taken by the Company and the Employer as may be required to allow the Company and the Employer to comply with local laws, rules and regulations in the Participant's country of residence (and country of employment, if different).  Additionally, the Participant agrees to take any and all actions that may be required to comply with the Participant's personal legal and tax obligations under local laws, rules and regulations in the Participant's country of residence (and country of employment, if different).
	EU Age Discrimination Rules	If the Participant is a resident of and/or employed in a country that is a member of the European Union, the grant of the Award and this Agreement are intended to comply with the age discrimination provisions of the EU Equal Treatment Framework Directive, as implemented into local law (the “Age Discrimination Rules”).  To the extent that a court or tribunal of competent jurisdiction determines that any provision of this Agreement is invalid or unenforceable, in whole or in part, under the Age Discrimination Rules, the Company, in its sole discretion, shall have the power and authority to revise or strike such provision to the minimum extent necessary to make it valid and enforceable to the full extent permitted under local law.
	Forfeiture of Award	Before accepting this Award, the Participant must disclose to the Company in writing all grants to the Participant of options, shares and other equity rights with respect to any Subsidiary of the Company ("Subsidiary Grants") that are still outstanding. Failure to disclose in writing the existence of any such outstanding Subsidiary Grants shall result in immediate cancellation and forfeiture of the Award set forth in this Agreement, unless Interpublic’s Management Human Resources Committee  determines in its sole discretion that such failure was reasonable under the circumstances.
	Cancellation and Rescission	Participant agrees that the Company may cancel, rescind, suspend, withhold, modify, amend or otherwise limit or restrict this Award (whether vested or not vested) at any time if the Participant is not in compliance with all applicable provisions of the Agreement and the Plan, or if the Participant engages in any “Prohibited Activity.” For purposes of this Agreement, “Prohibited Activity” means: (i) any activity that would enable the Company or the Employer to terminate the Participant’s employment for cause (as defined in the Plan or any employment agreement or other plan or arrangement that covers the Participant); (ii) a violation of any rule, policy or procedure of the Company or the Employer, including but not limited to the Code of Conduct of the Company; or (iii) before a Change of Control, any other conduct or act that the Company determines is injurious, detrimental or prejudicial to any interest of the Company.

The Participant agrees that the cancellation and rescission provisions of this Agreement are reasonable and agrees not to challenge the reasonableness of such provisions, even where forfeiture of this Agreement is the penalty for violation; provided that the Participant may challenge the reasonableness of any forfeiture that occurs after a Change of Control.

	No Employment Rights	The grant of the Award shall not be interpreted to form an employment contract between the Participant and the Company or the Employer.
	Discretionary Nature of Award	The Participant acknowledges and agrees that the Plan is discretionary in nature and may be amended, cancelled or terminated by the Company, in its sole discretion, at any time.  The grant of the Award under the Plan is a one-time benefit and does not create any contractual or other right to receive an Award or other benefits in lieu thereof in the future.  Future grants, if any, will be at the sole discretion of the Company, including, but not limited to, the form and timing of any grant, the amount granted and the vesting provisions.  Any amendment, modification or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant's employment with the Employer.

						
	Extraordinary Benefit	The Participant's participation in the Plan is voluntary.  The value of the Award and any other awards granted under the Plan is an extraordinary item of compensation outside the scope of the Participant's employment (and the Participant's employment contract, if any).  Any grant under the Plan, including the grant of the Award, is not part of the Participant's normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, holiday pay, pension, or retirement benefits or similar payments.
	Value of Benefit	If the Award is not paid in U.S. dollars, its future value is unknown and cannot be predicted with certainty. The Company shall not be liable for any foreign exchange rate fluctuation, where applicable, between the Participant’s local currency and the United States dollar that may affect the value of the Award or of any amounts due to the Participant pursuant to the settlement of the Award.
	Recoupment	Notwithstanding any other provision of this Agreement to the contrary, the Participant acknowledges and agrees that the Award, or any amount received with respect thereto are subject to potential cancellation, recoupment, rescission, payback or other action in accordance with the terms of any recoupment policy the Company may establish or adopt ("Recoupment Policy") and as the Recoupment Policy may be amended from time to time. The Participant agrees and consents to the Company's application, implementation and enforcement of (a) the Recoupment Policy, and (b) any provision of applicable law relating to cancellation, recoupment, rescission or payback of compensation and expressly agrees that the Company may take such actions as are necessary to effectuate the Recoupment Policy (as applicable to the Participant) or applicable law without further consent or action being required by the Participant.  For purposes of the foregoing, the Participant expressly and explicitly authorizes the Company to issue instructions, on the Participant's behalf, to any third party administrator engaged by the Company to hold any amounts acquired under the Plan to re-convey, transfer or otherwise return such amounts to the Company.  To the extent that the terms of this Agreement and the Recoupment Policy conflict, the terms of the Recoupment Policy shall prevail.
	English Language	If the Participant is resident outside of the United States, the Participant acknowledges and agrees that it is the Participant's express intent that this Agreement, the Plan and all other documents, notices and legal proceedings entered into, given or instituted pursuant to the Award be drawn up in English.  If the Participant receives this Agreement, the Plan or any other document related to the Award translated into a language other than English, and if the meaning of the translated version is different than the English version, the English version will control.
	Electronic Delivery	The Company may, in its sole discretion, decide to deliver any documents related to the Award or other awards granted to the Participant under the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and agrees 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.

						
	Data Privacy	The Company is located at 909 Third Avenue, New York, New York 10022, United States of America and grants Awards under the Plan to employees of the Company and its Affiliates in its sole discretion. In conjunction with the Company’s grant of the Award under the Plan and its ongoing administration of such awards, the Company is providing the following information about its data collection, processing and transfer practices. In accepting the grant of the Award, the Participant expressly and explicitly consents to the personal data activities as described herein.

a.Data Collection, Processing and Usage. The Company collects, processes and uses the Participant’s personal data, including the Participant’s name, home address, email address, telephone number, date of birth, social insurance number or other identification number, salary, citizenship, job title, any shares or directorships held in the Company, and details of all Awards or any other equity compensation awards granted, canceled, exercised, vested, or outstanding in the Participant’s favor, which the Company receives from the Participant or the Employer ("Personal Data"). In granting the Awards under the Plan, the Company will collect the Participant’s Personal Data for purposes of paying the Awards and implementing, administering and managing the Plan.  The Company’s legal basis for the collection, processing and usage of the Participant’s Personal Data is the Participant’s consent.

b.Third Party Administrators. The Company may transfer the Participant’s Personal Data to the Company's Affiliates outside of the United States of America, who assists the Company with the implementation, administration and management of the Plan, including the Affiliates payroll provider.  In the future, the Company may share the Participant’s personal data with another company that serves in a similar manner. The Participant may be asked to agree to the terms and data processing practices with the Affiliate or the Affiliate's payroll provider, which is a condition to the Participant’s ability to participate in the Plan.

c.International Data Transfers. The Company is based in the United States of America.  The Participant should note that the Participant’s country of residence may have enacted data privacy laws that are different from the United States of America. The Company’s legal basis for the transfer of the Participant’s Personal Data to the United States of America is the Participant’s consent.

d.Voluntariness and Consequences of Consent Denial or Withdrawal. The Participant’s participation in the Plan and his or her grant of consent is purely voluntary.  The Participant may deny or withdraw his or her consent at any time.  If the Participant does not consent, or if the Participant later withdraws his or her consent, the Participant may be unable to participate in the Plan.  This would not affect the Participant’s existing employment or salary; instead, the Participant merely may forfeit the opportunities associated with the Plan.

e.Data Subjects Rights. The Participant may have a number of rights under the data privacy laws in the Participant’s country of residence.  For example, the Participant’s rights may include the right to (i) request access or copies of Personal Data the Company processes, (ii) request rectification of incorrect Personal Data, (iii) request deletion of Personal Data, (iv) place restrictions on processing of Personal Data, (v) lodge complaints with competent authorities in the Participant’s country of residence, and/or (vi) request a list with the names and addresses of any potential recipients of the Participant’s Personal Data.  To receive clarification regarding the Participant’s rights or to exercise his or her rights, the Participant should contact the Participant’s local HR manager.

	Successors and Assigns	The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant's beneficiaries, executors or administrators.

						
	Addendum	Notwithstanding any provisions of this Agreement to the contrary, the Award shall be subject to any additional terms and conditions for the Participant's country of residence (and country of employment, if different) set forth in an addendum to this Agreement (an “Addendum”).  Further, if the Participant transfers the Participant's residence and/or employment to another country reflected in an Addendum to this Agreement at the time of transfer, the additional terms and conditions for such country will apply to the Participant to the extent the Company determines, in its sole discretion, that the application of such terms and conditions is necessary or advisable in order to comply with local law or to facilitate the operation and administration of the award and the Plan (or the Company may establish alternative terms and conditions as may be necessary or advisable to accommodate the Participant's transfer).  In all circumstances, any applicable Addendum shall constitute part of this Agreement.
	Additional Requirements	The Company reserves the right to impose other requirements on the Award and the Participant's participation in the Plan to the extent the Company determines, in its sole discretion, that such other requirements are necessary or advisable in order to comply with local law or to facilitate the operation and administration of the Award and the Plan.  Such requirements may include (but are not limited to) requiring the Participant to sign any agreements or undertakings that may be necessary to accomplish the foregoing.
	Governing Law	The Award and the Plan shall be construed, administered, and regulated in
accordance with the laws of the state of New York, excluding any conflicts or choice of
law rule or principle that might otherwise refer construction or interpretation of the
Plan to the substantive law of another jurisdiction.
	Severability	The invalidity or unenforceability of any provision of the Plan or this Agreement will not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement will be severable and enforceable to the extent permitted by law.
	Interpretation and Construction	This Agreement and the Plan shall be construed and interpreted by the Committee, in its sole discretion. Any interpretation or other determination by the Committee (including, but not limited to, correction of any defect or omission and reconciliation of any inconsistency in the Agreement or the Plan) shall be binding and conclusive.

All determinations regarding enforcement, waiver or modification of the cancellation and rescission and other provisions of this Agreement (including the provisions relating to termination of employment, death and disability) shall be made in the Company’s sole discretion.  Determinations made under this Agreement and the Plan need not be uniform and may be made selectively among individuals, whether or not such individuals are similarly situated.

	Entire Understanding	This Agreement, the terms of the Plan and the restrictive covenant agreement attached hereto as Exhibit B constitute the entire understanding between the Participant and the Company and its Affiliates regarding this Award. Any prior agreements, commitments, or negotiations concerning this Award are superseded.
	Participant's Acknowledgement and Agreement	By accepting the grant of the Award, the Participant acknowledges that the Participant has read this Agreement), the Plan, and the restrictive covenant agreement attached hereto as Exhibit B and the Participant specifically accepts and agrees to the provisions therein.

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