Document:

Exhibit 10.16

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(this “Agreement”) is made as of June 29, 2017, by and between Cision US Inc., a Delaware corporation (“Employer”)
and Kevin Akeroyd (“Executive”).

 

Employer, Executive,
and the Partnership are party to a Senior Management Agreement, dated July 5, 2016 (the “Original Senior Management Agreement”),
and concurrently with entering into this Agreement, the Partnership and Executive are amending and restating the Original Senior
Management Agreement (the “A&R Senior Management Agreement”) to remove Employer as a party and to remove
the employment-related provisions as provided therein.

 

In conjunction with the
execution of the A&R Senior Management Agreement, Employer and Executive mutually desire to enter into an agreement containing
the terms and conditions pursuant to which Employer will continue to employ Executive.

 

NOW, THEREFORE, in consideration
of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby agree as follows:

 

1.            Employment.
Employer agrees to continue to employ Executive, and Executive accepts such continued employment, for the period beginning on
the date hereof and ending upon his separation pursuant to Section 1(c) hereof (the “Employment Period”).
Such continued employment shall be deemed a continuation of the employment of Executive by Employer pursuant to the Original Senior
Management Agreement, and the transition of such employment from the Original Senior Management Agreement to this Agreement shall
not be deemed a Separation.

 

(a)          Position
and Duties.

 

(i)          During
the Employment Period, Executive shall serve as the Chief Executive Officer of Employer and shall have the normal duties, responsibilities
and authority implied by such position and such other responsibilities as are reasonably directed by the Board, subject in each
case to the power of the Board to expand, limit or otherwise alter such duties, responsibilities, positions and authority and to
otherwise override actions of officers.

 

(ii)         Executive
shall report to the Board, and Executive shall devote his best efforts and his full business time and attention to the business
and affairs of the Parent, Employer and the other Subsidiaries of the Parent; provided that Executive shall be permitted (A) to
serve as a member of the board of directors (or similar governing body) of other entities with the prior written consent of the
Board (which consent shall not be unreasonably withheld), (B) to oversee his direct or indirect investment in the Parent and (C)
upon prior written notice to the Board, to engage in civic, charitable and other non-profit activities that do not interfere with
Executive’s employment and other duties or obligations to the Parent or Employer.

 

    	 	 	 

     

    

 

(iii)        Executive
may be required from time to time to travel in connection with the performance of his duties hereunder.

 

(b)          Salary,
Bonus and Benefits. During the Employment Period, Employer will pay Executive a base salary at the same rate as in effect on
the date hereof in accordance with the terms set forth in the Original Senior Management Agreement (as may be adjusted pursuant
hereto, the “Annual Base Salary”). For each fiscal year ending during the Employment Period, Executive shall
be eligible for an annual bonus in an amount up to 100% of the Annual Base Salary, as determined by the Board in good faith based
upon the performance of Executive and the achievement by the Parent, Employer and the other Subsidiaries of the Parent of financial,
operating and other objectives mutually agreed upon by the Board and Executive, to be paid in the following fiscal year on or prior
to April 30. In addition, during the Employment Period, Executive will be entitled to such other benefits as are approved
by the Board and made generally available to all senior management of the Parent and Employer. The Annual Base Salary shall be
reviewed annually by the Board for potential increases.

 

(c)          Separation.
The Employment Period will continue until (i) Executive’s resignation, death or Disability or (ii) the Board terminates Executive’s
employment with or without Cause. Upon the termination of Executive’s employment for any reason, Executive (or, in the event
of Executive’s death, Executive’s estate) shall be entitled to receive (A) any earned but unpaid Annual Base Salary
through the date of such termination, subject to withholding and other appropriate deductions, (B) reimbursement for expenses accrued
during employment, subject to and in accordance with, Employer’s expense reimbursement policy, (C) any earned but unpaid
annual bonus relating to any prior period, and (D) any vested benefits (including vacation) accrued through the date of such termination
in accordance with applicable law or the governing agreement, plan or policy rules (clauses (A) through (D), collectively, the
“Accrued Obligations”). If Executive’s employment is terminated by resignation of Executive with Good
Reason pursuant to clause (i) above or by the Board without Cause pursuant to clause (ii) above, then, in addition to the Accrued
Obligations, during the 12-month period commencing on the date of termination (the “Severance Period”), (x)
Employer shall pay to Executive an aggregate amount equal to 100% of his Annual Base Salary, payable in equal installments on Employer’s
regular salary payment dates as in effect on the date of the Separation (the “Severance Payments”), and (y)
Employer shall pay the premiums for Executive’s continued coverage under Employer’s health benefit plan during the
Severance Period; provided, that Employer shall not have any obligation to pay such premiums if as a consequence Employer would
be subject to any excise tax under Section 4980D of the Code or other penalty or liability pursuant to the provisions of the
Patient Protection and Affordable Care Act of 2010 (as amended from time to time); provided that if at any time Employer determines
that its subsidy of Executive’s premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2)
of the Code or would subject Employer to any excise tax under Section 4980D of the Code or other penalty or liability pursuant
to the provisions of the Patient Protection and Affordable Care Act of 2010 (as amended from time to time), then in lieu of providing
the subsidized premiums described above, Employer will instead pay to Executive a fully taxable monthly cash payment in an amount
such that, after payment by Executive of all taxes on such payment, Executive retains an amount equal to the applicable premiums
for such month, with such monthly payment being made on the last day of each month for the remainder of the Severance Period. For
the avoidance of doubt, Executive’s health benefit coverage from Employer during the Severance Period shall run concurrent
with the health continuation coverage period mandated by Section 4980B of the Code. Notwithstanding anything herein to the
contrary, (1) Executive shall not be entitled to receive any payments or other benefits pursuant to this Section 1(c)
unless Executive has executed and delivered to Employer a general release in form and substance satisfactory to Employer (a “Release”)
in accordance with Section 1(d)(vii) (and such release is in full force and effect and has not been revoked), and (2)
Executive shall be entitled to receive such payments only so long as Executive has not breached any of the provisions of such general
release or Section 2 or Section 3 hereof. In the event a Separation occurs by reason of a resignation by
Executive, if at the time of such resignation Employer had the right to terminate Executive’s employment with Cause, then
Employer may elect to have the parties hereto treat such Separation for purposes of this Agreement, the limited partnership agreement
(as then in effect) of the Partnership and the A&R Senior Management Agreement as a termination of Executive’s employment
by Employer with Cause. Executive shall not be entitled to any further payments from the Parent, Employer or their Affiliates in
respect of his employment with any of them, nor shall they have any further liability to Executive in respect thereof, except as
expressly set forth in this Section 1.

 

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(d)          Code
Section 409A.

 

(i)          The
intent of the parties is that payments and benefits under this Agreement comply with or otherwise be exempt from Section 409A
of the Code and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”)
and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be either exempt from or in compliance
therewith. In no event shall the Parent or Employer be liable for any additional tax, interest or penalty that may be imposed on
Executive by Code Section 409A or damages for failing to comply with Code Section 409A.

 

(ii)         Notwithstanding
any other payment schedule provided herein to the contrary, if Executive is deemed on the date of termination to be a “specified
employee” within the meaning of that term under Code Section 409A(a)(2)(B), then any payment under Section 1
hereof that is considered deferred compensation under Code Section 409A payable on account of a “separation from service”
shall not be made until the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date
of such “separation from service” of Executive, and (B) the date of Executive’s death (the “Delay Period”)
to the extent required under Code Section 409A. Upon the expiration of the Delay Period, all payments delayed pursuant to
this Section 1(d) shall be paid to Executive in a lump sum, and all remaining payments due under this Agreement shall
be paid or provided in accordance with the normal payment dates specified for them herein.

 

(iii)        A
termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the
payment of any amounts or benefits that constitute “nonqualified deferred compensation” (within the meaning of Code
Section 409A) upon or following a termination of employment unless such termination is also a “separation from service”
from the Parent and Employer within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement,
references to a “termination,” “termination of employment” or like terms shall mean “separation from
service.”

 

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(iv)        For
purposes of Code Section 409A, Executive’s right to receive any installment payment pursuant to this Agreement shall
be treated as a right to receive a series of separate and distinct payments.

 

(v)         Notwithstanding
any other provision to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred
compensation” (within the meaning of Code Section 409A) be subject to offset by any other amount unless otherwise permitted
by Code Section 409A.

 

(vi)        To
the extent that any reimbursement of expenses or in-kind benefits constitute “nonqualified deferred compensation” (within
the meaning of Code Section 409A), such reimbursement shall be provided no later than December 31 of the year following
the year in which the expense was incurred, the amount of any expenses reimbursed or in-kind benefits provided in one year shall
not affect the amount eligible for reimbursement or in-kind benefits provided in any subsequent year (other than an arrangement
providing for the reimbursement of medical expenses referred to in Section 105(b) of the Code), and Executive’s right
to such payments or reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit.

 

(vii)       Notwithstanding
anything to the contrary in this Agreement, to the extent that any payments of “nonqualified deferred compensation”
(within the meaning of Code Section 409A) due under this Agreement as a result of Executive’s termination of employment
are subject to Executive’s execution and delivery of a Release, (A) the Employer shall deliver the Release to Executive within
ten days following the date of Executive’s termination of employment, (B) provided the Employer timely complies with its
obligation under clause (A), if Executive fails to execute the Release on or prior to the Release Expiration Date (as defined below)
or timely revokes his acceptance of the Release thereafter, he shall not be entitled to any payments or benefits otherwise conditioned
on the Release, and (C) in any case where the date of termination of employment and the Release Expiration Date fall in two separate
taxable years, any payments required to be made to Executive that are conditioned on the Release and are treated as “nonqualified
deferred compensation” (within the meaning of Code Section 409A) shall be made in the later taxable year. For purposes
of this Section 1(d)(vii) “Release Expiration Date” shall mean the date that is 31 days following
the date of Executive’s termination of employment, or, in the event that Executive’s termination of employment is “in
connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination
in Employment Act of 1967), the date that is 55 days following the date of Executive’s termination of employment. To the
extent that any payments of nonqualified deferred compensation (within the meaning of Code Section 409A) due under this Agreement
as a result of Executive’s termination of employment are delayed pursuant to this Section 1(d)(vii) such amounts
shall be paid in a lump sum on the first payroll date following the date that Executive executes and does not revoke the Release
(and the applicable revocation period has expired) or, in the case of any payments subject to clause (C) of this Section 1(d)(vii)
on the first payroll period to occur in the subsequent taxable year, if later.

 

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2.            Confidential
Information.

 

(a)          Obligation
to Maintain Confidentiality. Executive acknowledges that the information, observations and data (including trade secrets) obtained
by him during the course of his employment with Employer concerning the business or affairs of the Parent, Employer and their respective
Subsidiaries and Affiliates (“Confidential Information”) are the property of the Parent, Employer or such Subsidiaries
and Affiliates, including information concerning acquisition opportunities in or reasonably related to the Parent’s and Employer’s
business or industry of which Executive becomes aware during the Employment Period. Therefore, Executive agrees that he will not
disclose to any unauthorized Person or use for his own account any Confidential Information without the Board’s written consent,
unless and to the extent that the Confidential Information, (i) becomes generally known to and available for use by the public
other than as a result of Executive’s acts or omissions to act or (ii) is required to be disclosed pursuant to any applicable
law or court order. Executive shall deliver to Employer at a Separation, or at any other time Employer may reasonably request,
all memoranda, notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and copies
thereof) relating to the Confidential Information, Work Product (as defined below) or the business of the Parent, Employer and
their respective Subsidiaries and Affiliates (including, without limitation, all acquisition prospects, lists and contact information)
which he may then possess or have under his control.

 

(b)          Ownership
of Property. Executive acknowledges that all discoveries, concepts, ideas, inventions, innovations, improvements, developments,
methods, processes, programs, designs, analyses, drawings, reports, patent applications, copyrightable work and mask work (whether
or not including any confidential information) and all registrations or applications related thereto, all other proprietary information
and all similar or related information (whether or not patentable) that relate to the Parent’s, Employer’s or any of
their respective Subsidiaries’ or Affiliates’ actual or anticipated business, research and development, or existing
or future products or services and that are conceived, developed, contributed to, made, or reduced to practice by Executive (either
solely or jointly with others) while employed by the Parent, Employer or any of their respective Subsidiaries or Affiliates (including
any of the foregoing that constitutes any proprietary information or records) (“Work Product”) belong to the
Parent, Employer or such Subsidiary or Affiliate, and Executive hereby assigns, and agrees to assign, all of the above Work Product
to the Parent, Employer or to such Subsidiary or Affiliate. Any copyrightable work prepared in whole or in part by Executive in
the course of his work for any of the foregoing entities shall be deemed a “work made for hire” under the copyright
laws, and the Parent, Employer or such Subsidiary or Affiliate shall own all rights therein. To the extent that any such copyrightable
work is not a “work made for hire,” Executive hereby assigns and agrees to assign to the Parent, Employer or such Subsidiary
or Affiliate all right, title, and interest, including without limitation, copyright in and to such copyrightable work. Executive
shall promptly disclose such Work Product and copyrightable work to the Board and perform all actions reasonably requested by the
Board (whether during or after the Employment Period), at the expense of the Parent, to establish and confirm the Parent’s,
Employer’s or such Subsidiary’s or Affiliate’s ownership (including, without limitation, assignments, consents,
powers of attorney, and other instruments).

 

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(c)          Third
Party Information. Executive understands that the Parent, Employer and their respective Subsidiaries and Affiliates will receive
from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on
the Parent’s, Employer’s and their respective Subsidiaries and Affiliates’ part to maintain the confidentiality
of such information and to use it only for certain limited purposes. During the Employment Period and thereafter, and without in
any way limiting the provisions of Section 2(a) above, Executive will hold Third Party Information in the strictest
confidence and will not disclose to anyone (other than personnel and consultants of the Parent, Employer or their respective Subsidiaries
and Affiliates who need to know such information in connection with their work for the Parent, Employer or their respective Subsidiaries
and Affiliates) or use, except in connection with his work for the Parent, Employer or their respective Subsidiaries and Affiliates,
Third Party Information unless expressly authorized by the Board in writing.

 

(d)          Use
of Information of Prior Employers. During the Employment Period, Executive will not improperly use or disclose any confidential
information or trade secrets, if any, of any former employers or any other Person to whom Executive has an obligation of confidentiality,
and will not bring onto the premises of the Parent, Employer or any of their respective Subsidiaries or Affiliates any unpublished
documents or any property belonging to any former employer or any other Person to whom Executive has an obligation of confidentiality
unless consented to in writing by the former employer or Person. Executive will use in the performance of his duties only information
which is (i) generally known and used by persons with training and experience comparable to Executive’s and which is (x)
common knowledge in the industry or (y) otherwise legally in the public domain, (ii) otherwise provided or developed by the Parent,
Employer or any of their respective Subsidiaries or Affiliates or (iii) in the case of materials, property or information belonging
to any former employer or other Person to whom Executive has an obligation of confidentiality, approved for such use in writing
by such former employer or Person. In furtherance of the foregoing, pursuant to the Original Senior Management Agreement, Executive
executed and delivered to Employer a certificate in the form of Exhibit F attached to the Original Senior Management Agreement.

 

(e)          Continuation
of Terms. Notwithstanding anything in this Agreement to the contrary, the parties hereto expressly acknowledge and agree that
the terms, conditions, obligations and covenants set forth in this Section 2 are a continuation without interruption, lapse,
reprieve, gap or modification of any kind of the terms, conditions, obligations and covenants set forth in Section 7 of
the Original Senior Management Agreement.

 

3.            Employee
Non-Solicitation. Executive acknowledges that in the course of his employment with Employer he will become familiar with the
Parent’s, Employer’s and their respective Subsidiaries’ trade secrets and with other confidential information
concerning the Parent, Employer and such Subsidiaries and that his services will be of special, unique and extraordinary value
to the Parent, Employer and such Subsidiaries. Therefore, Executive agrees that during the period beginning on the date hereof
and continuing during the Employment Period and during the 12-month period immediately following the Employment Period, Executive
shall not directly or indirectly through another entity induce or attempt to induce any employee of the Parent, Employer or any
of their respective Subsidiaries to leave the employ of the Parent, Employer or such Subsidiary.

 

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(a)          Enforcement.
If, at the time of enforcement of Section 2 or this Section 3, a court holds that the restrictions stated
herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration or scope reasonable
under such circumstances shall be substituted for the stated period or scope and that the court shall be allowed to revise the
restrictions contained herein to cover the maximum duration and scope permitted by law. Because Executive’s services are
unique and because Executive has access to confidential information, the parties hereto agree that money damages would be an inadequate
remedy for any breach of this Agreement. Therefore, in the event a breach or threatened breach of this Agreement, the Parent, Employer,
their respective Subsidiaries and/or their respective successors or assigns would, in addition to other rights and remedies existing
in their favor, be entitled to an order for specific performance and/or injunctive or other relief in order to enforce, or prevent
any violations of, the provisions hereof (without posting a bond or other security).

 

(b)          Additional
Acknowledgments. Executive acknowledges that the provisions of this Section 3 are in consideration of: (i) employment
with Employer and (ii) additional good and valuable consideration as set forth in this Agreement. In addition, Executive agrees
and acknowledges that the restrictions contained in Section 2 and this Section 3 are reasonable in all
respects, including activity restraint and time period, and do not unreasonably impose limitations on Executive’s ability
to earn a living. Executive agrees and acknowledges that the potential harm to the Parent, Employer and their respective Subsidiaries
of the non-enforcement of any provision of Section 2 or this Section 3 outweighs any potential harm to
Executive of its enforcement by injunction or otherwise. Executive acknowledges that he has carefully read this Agreement and consulted
with legal counsel of his choosing regarding its contents, has given careful consideration to the restraints imposed upon Executive
by this Agreement and is in full accord as to their necessity for the reasonable and proper protection of confidential and proprietary
information of the Parent, Employer and their respective Subsidiaries now existing or to be developed in the future. Executive
expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with respect to subject
matter and time period.

 

4.            Definitions.

 

“Affiliate”
means, with respect to any Person, (i) any other Person controlling, controlled by or under common control with such particular
Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies
of a Person whether through the ownership of voting securities, by contract, or otherwise, and (ii) if such Person is a partnership,
any partner thereof.

 

“Board”
means the board of directors of Parent.

 

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“Cause”
means (i) (a) the conviction or plea of no contest for or indictment on a felony or a crime involving moral turpitude
or (b) the commission of any other act or omission involving (x) dishonesty that is reasonably likely to materially and
adversely affect the Parent, Employer or their respective Subsidiaries or (y) fraud, in either case, with respect to the Parent,
Employer or any of their respective Subsidiaries or any of their customers, vendors or employees, (ii) substantial and repeated
failure to perform duties of the office held by Executive as reasonably and expressly directed by the Board, provided that Executive
shall have the opportunity to address the Board before a termination pursuant to this clause (ii) becomes effective, (iii) gross
negligence or willful misconduct with respect to the Parent, Employer or any of their respective Subsidiaries or any of their customers,
vendors or employees, (iv) conduct which could reasonably be expected to bring the Parent, Employer or any of their respective
Subsidiaries into substantial public disgrace or disrepute, (v) any breach by Executive of Section 2 or Section 3
of this Agreement and/or (vi) a failure to observe the Parent’s, Employer’s or any of their respective Subsidiaries’
policies or standards regarding employment practices (including, without limitation, nondiscrimination and sexual harassment policies)
as approved by the Board from time to time.

 

“Disability”
means the disability of Executive caused by any physical or mental injury, illness or incapacity as a result of which Executive
is, or is reasonably expected to be, unable to effectively perform the essential functions of Executive’s duties for any
180 days (whether or not continuous) within a 365 day period, as determined by the Board in good faith.

 

“Good Reason”
means (i) a material reduction in Executive’s then effective Annual Base Salary, (ii) a material diminution in
Executive’s title, (iii) the assignment of duties to Executive materially inconsistent with his position as Chief Executive
Officer or (iv) the relocation by Employer of Executive’s principal office to a location which is more than 50 miles
outside of the San Jose metropolitan area, in each case, without the prior written consent of Executive; provided that in order
for an event to constitute Good Reason for any purpose hereunder, Executive must, within 60 days after Executive obtains actual
knowledge of the occurrence of such event, deliver a written notice to the Parent of his resignation, which resignation shall be
effective on the 30th day following the Parent’s receipt of such notice (or such earlier date as the Parent may specify in
writing to Executive following receipt of such notice) unless the Parent cures the condition prior to the expiration of the 30
day period.

 

“Parent”
means Cision Ltd., a Cayman Islands public company, or in the event Employer is no longer a Subsidiary of Cision Ltd., the Employer’s
direct parent company.

 

“Partnership”
means Canyon Holdings (Cayman), L.P., a Cayman Islands exempted limited partnership.

 

“Person”
means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization, investment fund, any other business entity and a governmental entity or any department,
agency or political subdivision thereof.

 

“Separation”
means Executive ceasing to be employed by the Parent, Employer and their respective Subsidiaries for any reason.

 

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“Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association, or business entity of
which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence
of any contingency) to vote in the election of directors, managers, or trustees thereof is at the time owned or controlled, directly
or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if
a limited liability company, partnership, association, or other business entity (other than a corporation), a majority of partnership
or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or
more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association, or other business entity (other than a corporation)
if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other business
entity gains or losses or shall be or control any managing director or general partner of such limited liability company, partnership,
association, or other business entity. For purposes hereof, references to a “Subsidiary” of any Person shall
be given effect only at such times that such Person has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary”
refers to a Subsidiary of the Parent.

 

5.            Notices.
All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall
be in writing and shall be deemed to have been given when (i) delivered personally to the recipient, (ii) sent to the recipient
by reputable express courier service (charges prepaid), (iii) mailed to the recipient by certified or registered mail, return
receipt requested and postage prepaid, or (iv) telecopied to the recipient (with hard copy sent to the recipient by reputable
overnight courier service (charges prepaid) that same day) if telecopied before 5:00 p.m. Chicago, Illinois time on a business
day, and otherwise on the next business day. Such notices, demands and other communications shall be sent to the parties at the
addresses indicated below:

 

If to the Parent or Employer:

 

	Cision US Inc.
	130 E. Randolph St. 7th Floor
	
	Chicago, IL 60601
	Phone:	(312) 382-2200
	Fax:	(312) 382-2201
	E-mail:	jack.pearlstein@cision.com
	Attention:	Jack Pearlstein

 

with a copy to:

 

	Kirkland & Ellis LLP
	300 North LaSalle
	Chicago, IL 60654
	Facsimile:	(312) 862-2200
	Attention:	Stephen L. Ritchie, P.C.
	 	Mark A. Fennell, P.C.

 

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If to Executive:

 

Kevin Akeroyd

1848 Booksin Avenue

San Jose, CA 95125

 

or such other address or to the attention of such other Person
as the recipient party shall have specified by prior written notice to the sending party.

 

6.            General
Provisions.

 

(a)          Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable
law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other
jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision had never been contained herein.

 

(b)          Complete
Agreement. This Agreement, those documents expressly referred to herein, and other documents of even date herewith embody the
complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations
by or among the parties, written or oral, which may have related to the subject matter hereof in any way, provided, that
any other confidentiality, non-competition, or non-solicitation obligations of Executive with the Parent, Employer, or their respective
Affiliates shall not be so superseded or preempted.

 

(c)          No
Strict Construction; Descriptive Headings; Interpretation. The language used in this Agreement shall be deemed to be the language
chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied against any party.
The descriptive headings of this Agreement are inserted for convenience only and do not constitute a section of this Agreement.
The use of the word “including” in this Agreement shall be by way of example rather than by limitation. Any reference
in this Agreement to the “judgment” or “discretion” of a party shall mean the sole judgment or discretion
of such party.

 

(d)          Counterparts.
This Agreement may be executed in separate counterparts (including by means of facsimile), each of which is deemed to be an original
and all of which taken together constitute one and the same agreement.

 

(e)          Successors
and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable
by Executive, Employer, and their respective successors and assigns; provided that the rights and obligations of Executive
under this Agreement shall not be assigned or delegated.

 

(f)          Choice
of Law. The laws of the State of Delaware will govern all questions concerning the relative rights of the Employer and Executive
and all other questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of Delaware.

 

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(g)          Jurisdiction;
Venue; Service of Process. Each party hereto agrees that any action between the parties hereto arising out of or related to
this Agreement will be brought exclusively in the Court of Chancery of the State of Delaware (the “Court of Chancery”)
or, to the extent the Court of Chancery does not have subject matter jurisdiction, the United States District Court for the
District of Delaware and the appellate courts having jurisdiction of appeals in such courts (the “Delaware Federal Court”)
or, to the extent neither the Court of Chancery nor the Delaware Federal Court has subject matter jurisdiction, the Superior Court
of the State of Delaware (all of the foregoing, the “Chosen Courts”), and (i) irrevocably submits to the
exclusive jurisdiction of the Chosen Courts, (ii) waives any objection to laying venue in any such action in the Chosen Courts,
(iii) waives any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction over any party hereto
and (iv) agrees that service of process upon such party in any such action shall be effective if notice is given in accordance
with Section 5; provided, however, that each party agrees that any judgment rendered by the Chosen Courts,
or any order for interim relief (such as a temporary restraining order or preliminary injunction) can be enforced in any court
of competent jurisdiction.

 

(h)          MUTUAL
WAIVER OF JURY TRIAL. BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY
RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES HERETO WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN
ARBITRATION RULES), THE PARTIES HERETO DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE,
TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS AGREEMENT HEREBY
WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE
PARTIES HERETO, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THIS
AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND/OR THE RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER.

 

(i)          Executive’s
Cooperation. During the Employment Period and thereafter, Executive shall cooperate with the Parent, Employer and their respective
Subsidiaries and Affiliates in any disputes with third parties, internal investigation or administrative, regulatory or judicial
proceeding as reasonably requested by the Parent (including, without limitation, Executive being available to the Parent upon reasonable
notice for interviews and factual investigations, appearing at the Parent’s reasonable request to give testimony without
requiring service of a subpoena or other legal process, volunteering to the Parent all pertinent information and turning over to
the Parent all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are
reasonably consistent with Executive’s other permitted activities and commitments). In the event the Parent requires Executive’s
cooperation in accordance with this paragraph after the Employment Period, the Parent shall reimburse Executive for reasonable
travel expenses (including lodging and meals, upon submission of receipts).

 

    	 	11	 

     

    

 

(j)          Remedies.
Each of the parties to this Agreement will be entitled to enforce its rights under this Agreement specifically, to recover damages
and costs (including attorney’s fees) caused by any breach of any provision of this Agreement and to exercise all other rights
existing in its favor. The parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach
of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent
jurisdiction (without posting any bond or deposit) for specific performance and/or other injunctive relief in order to enforce
or prevent any violations of the provisions of this Agreement.

 

(k)          Amendment
and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the Parent, Employer
and Executive.

 

(l)          Insurance.
The Parent or Employer, at its discretion, may apply for and procure in its own name and for its own benefit life and/or disability
insurance on Executive in any amount or amounts considered available. Executive agrees to cooperate in any medical or other examination,
supply any information, and to execute and deliver any applications or other instruments in writing as may be reasonably necessary
to obtain and constitute such insurance. Executive hereby represents that he has no reason to believe that his life is not insurable
at rates now prevailing for healthy men of his age.

 

(m)          Business
Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or holiday
in the state in which the Parent’s chief executive office is located, the time period shall be automatically extended to
the business day immediately following such Saturday, Sunday or holiday.

 

(n)          Indemnification
and Reimbursement of Payments on Behalf of Executive. The Parent, Employer and their respective Subsidiaries shall be
entitled to deduct or withhold from any amounts owing from the Parent, Employer or any of their respective Subsidiaries to Executive
(including withholding shares or other equity securities in the case of issuances of equity by the Parent, Employer or any of their
respective Subsidiaries) any federal, state, local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”)
imposed with respect to Executive’s compensation or other payments from the Parent, Employer or any of their respective Subsidiaries,
including, without limitation, wages, bonuses, distributions, the receipt or exercise of equity options and/or the receipt or vesting
of restricted equity. In the event any such deductions or withholdings are not made, Executive shall indemnify the Parent, Employer
and each of their respective Subsidiaries for any amounts paid with respect to any such Taxes, together with any interest, penalties
and related expenses thereto.

 

(o)          Termination.
This Agreement (except for the provisions of Sections 1(a) and 1(b)) shall survive a Separation and shall remain
in full force and effect after such Separation.

 

    	 	12	 

     

    

 

(p)          Electronic
Delivery. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection
herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered
by means of a photographic, photostatic, facsimile, portable document format (.pdf), or similar reproduction of such signed writing
using a facsimile machine or electronic mail shall be treated in all manner and respects as an original agreement or instrument
and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.
At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute
original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise
the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument
was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability
of a contract and each such party forever waives any such defense.

 

(q)          No
Third-Party Beneficiaries. Except as expressly provided herein, no term or provision of this Agreement is intended to be, or
shall be, for the benefit of any Person not a party hereto, and no such other Person shall have any right or cause of action hereunder.

 

(r)          Representations.
Executive represents and warrants to Employer that (i) this Agreement constitutes the legal, valid and binding obligation of Executive,
enforceable in accordance with its terms, and the execution, delivery and performance of this Agreement by Executive does not and
will not conflict with, violate or cause a breach of any agreement, contract or instrument to which Executive is a party or any
judgment, order or decree to which Executive is subject, and (ii) other than the A&R Senior Management Agreement, Executive
is neither party to, nor bound by, any other employment agreement, consulting agreement, noncompete agreement, non-solicitation
agreement or confidentiality agreement or any other agreement which could impair or interfere with Executive’s obligations
hereunder.

 

*     *     *     *     *

 

    	 	13	 

     

    

 

IN WITNESS WHEREOF, the
parties hereto have executed this Employment Agreement as of the date first written above.

 

	 	CISION US, INC.
	 	 
	 	By:	/s/ Jack Pearlstein
	 	Name:	Jack Pearlstein
	 	Its:	Chief Financial Officer

 

	 	EXECUTIVE
	 	 
	 	/s/ Kevin Akeroyd
	 	Kevin AkeroydExhibit 10.17

 

Execution Version

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(this “Agreement”) is made as of June 29, 2017, by and between Cision US Inc., a Delaware corporation (“Employer”)
and Jack Pearlstein (“Executive”).

 

Employer, Executive, and
the Partnership are party to a Senior Management Agreement, dated May 30, 2014 (the “Original Senior Management Agreement”),
and concurrently with entering into this Agreement, the Partnership and Executive are amending and restating the Original Senior
Management Agreement (the “A&R Senior Management Agreement”) to remove Employer as a party and to remove
the employment-related provisions as provided therein.

 

In conjunction with the execution
of the A&R Senior Management Agreement, Employer and Executive mutually desire to enter into an agreement containing the terms
and conditions pursuant to which Employer will continue to employ Executive.

 

NOW, THEREFORE, in consideration
of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby agree as follows:

 

1.          Employment.
Employer agrees to continue to employ Executive, and Executive accepts such continued employment, for the period beginning on
the date hereof and ending upon his separation pursuant to Section 1(c) hereof (the “Employment Period”).
Such continued employment shall be deemed a continuation of the employment of Executive by Employer pursuant to the Original Senior
Management Agreement, and the transition of such employment from the Original Senior Management Agreement to this Agreement shall
not be deemed a Separation.

 

(a)          Position
and Duties.

 

(i)          During
the Employment Period, Executive shall serve as the Chief Financial Officer of the Parent and Employer and shall have the normal
duties, responsibilities and authority implied by such position and such other responsibilities as are reasonably directed by Employer’s
Chief Executive Officer (the “CEO”) or the Board, subject in each case to the power of the CEO and the Board
to expand, limit or otherwise alter such duties, responsibilities, positions and authority and to otherwise override actions of
officers.

 

(ii)         Executive
shall report to the CEO, and Executive shall devote his best efforts and his full business time and attention to the business and
affairs of the Parent, Employer and the other Subsidiaries of the Parent; provided that Executive shall be permitted (A) to serve
as a member of the board of directors (or similar governing body) of other entities with the prior written consent of the Board
(which consent shall not be unreasonably withheld), (B) to oversee his direct or indirect investment in the Parent and (C) upon
prior written notice to the Board, to engage in civic, charitable and other non-profit activities that do not interfere with Executive’s
employment and other duties or obligations to the Parent or Employer.

 

     

     

    

 

(b)          Salary,
Bonus and Benefits. During the Employment Period, Employer will pay Executive a base salary at the same rate as in effect on
the date hereof in accordance with the terms set forth in the Original Senior Management Agreement (as may be adjusted pursuant
hereto, the “Annual Base Salary”). For each fiscal year ending during the Employment Period, Executive shall
be eligible for an annual bonus in an amount up to 50% of the Annual Base Salary, as determined by the Board in good faith based
upon the performance of Executive and the achievement by the Parent, Employer and the other Subsidiaries of the Parent of financial,
operating and other objectives mutually agreed upon by the Board and Executive, to be paid in the following fiscal year on or prior
to April 30. In addition, during the Employment Period, Executive will be entitled to such other benefits as are approved
by the Board and made generally available to all senior management of the Parent and Employer. The Annual Base Salary shall be
reviewed annually by the Board for potential increases.

 

(c)          Separation.
The Employment Period will continue until (i) Executive’s resignation, death or Disability or (ii) the Board terminates Executive’s
employment with or without Cause. Upon the termination of Executive’s employment for any reason, Executive (or, in the event
of Executive’s death, Executive’s estate) shall be entitled to receive (A) any earned but unpaid Annual Base Salary
through the date of such termination, subject to withholding and other appropriate deductions, (B) reimbursement for expenses accrued
during employment, subject to and in accordance with, Employer’s expense reimbursement policy, (C) any earned but unpaid
annual bonus relating to any prior period, and (D) any vested benefits (including vacation) accrued through the date of such termination
in accordance with applicable law or the governing agreement, plan or policy rules (clauses (A) through (D), collectively, the
“Accrued Obligations”). If Executive’s employment is terminated by resignation of Executive with Good
Reason pursuant to clause (i) above or by the Board without Cause pursuant to clause (ii) above, then, in addition to the Accrued
Obligations, during the eighteen-month period commencing on the date of termination (the “Severance Period”),
(x) Employer shall pay to Executive an aggregate amount equal to 150% of his Annual Base Salary, payable in equal installments
on Employer’s regular salary payment dates as in effect on the date of the Separation (the “Severance Payments”),
and (y) Employer shall pay the premiums for Executive’s continued coverage under Employer’s health benefit plan during
the Severance Period; provided, that Employer shall not have any obligation to pay such premiums if as a consequence Employer would
be subject to any excise tax under Section 4980D of the Code or other penalty or liability pursuant to the provisions of the Patient
Protection and Affordable Care Act of 2010 (as amended from time to time); provided that if at any time Employer determines that
its subsidy of Executive’s premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the
Code or would subject Employer to any excise tax under Section 4980D of the Code or other penalty or liability pursuant to the
provisions of the Patient Protection and Affordable Care Act of 2010 (as amended from time to time), then in lieu of providing
the subsidized premiums described above, Employer will instead pay to Executive a fully taxable monthly cash payment in an amount
such that, after payment by Executive of all taxes on such payment, Executive retains an amount equal to the applicable premiums
for such month, with such monthly payment being made on the last day of each month for the remainder of the Severance Period. For
the avoidance of doubt, Executive’s health benefit coverage from Employer during the Severance Period shall run concurrent
with the health continuation coverage period mandated by Section 4980B of the Code. Notwithstanding anything herein to the contrary,
(1) Executive shall not be entitled to receive any payments or other benefits pursuant to this Section 1(c) unless Executive
has executed and delivered to Employer a general release in form and substance satisfactory to Employer (a “Release”)
in accordance with Section 1(d)(vii) (and such release is in full force and effect and has not been revoked), and (2)
Executive shall be entitled to receive such payments only so long as Executive has not breached any of the provisions of such general
release or Section 2 or Section 3 hereof. Executive shall not be entitled to any further payments from the Parent,
Employer or their Affiliates in respect of his employment with any of them, nor shall they have any further liability to Executive
in respect thereof, except as expressly set forth in this Section 1.

 

    	 	2	 

     

    

 

(d)          Code
Section 409A.

 

(i)          The
intent of the parties is that payments and benefits under this Agreement comply with or otherwise be exempt from Section 409A of
the Code and the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) and, accordingly,
to the maximum extent permitted, this Agreement shall be interpreted to be either exempt from or in compliance therewith. In no
event shall the Parent or Employer be liable for any additional tax, interest or penalty that may be imposed on Executive by Code
Section 409A or damages for failing to comply with Code Section 409A.

 

(ii)         Notwithstanding
any other payment schedule provided herein to the contrary, if the Executive is deemed on the date of termination to be a “specified
employee” within the meaning of that term under Code Section 409A(a)(2)(B), then any payment under Section 1 hereof
that is considered deferred compensation under Code Section 409A payable on account of a “separation from service”
shall not be made until the date which is the earlier of (A) the expiration of the six (6)-month period measured from the date
of such “separation from service” of Executive, and (B) the date of Executive’s death (the “Delay
Period”) to the extent required under Code Section 409A. Upon the expiration of the Delay Period, all payments delayed
pursuant to this Section 6(e shall be paid to Executive in a lump sum, and all remaining payments due under this Agreement
shall be paid or provided in accordance with the normal payment dates specified for them herein.

 

(iii)        A
termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the
payment of any amounts or benefits that constitute “nonqualified deferred compensation” (within the meaning of Code
Section 409A) upon or following a termination of employment unless such termination is also a “separation from service”
from the Parent and Employer within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement,
references to a “termination,” “termination of employment” or like terms shall mean “separation from
service.”

 

(iv)        For
purposes of Code Section 409A, Executive’s right to receive any installment payment pursuant to this Agreement shall be treated
as a right to receive a series of separate and distinct payments.

 

    	 	3	 

     

    

 

(v)         Notwithstanding
any other provision to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified
deferred compensation” (within the meaning of Code Section 409A) be subject to offset by any other amount unless otherwise
permitted by Code Section 409A.

 

(vi)        To
the extent that any reimbursement of expenses or in-kind benefits constitute “nonqualified deferred compensation” (within
the meaning of Code Section 409A), such reimbursement shall be provided no later than December 31 of the year following the year
in which the expense was incurred, the amount of any expenses reimbursed or in-kind benefits provided in one year shall not affect
the amount eligible for reimbursement or in-kind benefits provided in any subsequent year (other than an arrangement providing
for the reimbursement of medical expenses referred to in Section 105(b) of the Code), and Executive’s right to such payments
or reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit.

 

(vii)       Notwithstanding
anything to the contrary in this Agreement, to the extent that any payments of “nonqualified deferred compensation”
(within the meaning of Code Section 409A) due under this Agreement as a result of Executive’s termination of employment are
subject to Executive’s execution and delivery of a Release, (A) Employer shall deliver the Release to Executive within ten
days following the date of Executive’s termination of employment, (B) provided Employer timely complies with its obligation
under clause (A), if Executive fails to execute the Release on or prior to the Release Expiration Date (as defined below) or timely
revokes his acceptance of the Release thereafter, he shall not be entitled to any payments or benefits otherwise conditioned on
the Release, and (C) in any case where the date of termination of employment and the Release Expiration Date fall in two separate
taxable years, any payments required to be made to Executive that are conditioned on the Release and are treated as “nonqualified
deferred compensation” (within the meaning of Code Section 409A) shall be made in the later taxable year. For purposes
of this Section 1(d)(vii) “Release Expiration Date” shall mean the date that is 31 days following the
date of Executive’s termination of employment, or, in the event that Executive’s termination of employment is “in
connection with an exit incentive or other employment termination program” (as such phrase is defined in the Age Discrimination
in Employment Act of 1967), the date that is 55 days following the date of Executive’s termination of employment. To the
extent that any payments of nonqualified deferred compensation (within the meaning of Code Section 409A) due under this Agreement
as a result of Executive’s termination of employment are delayed pursuant to this Section 1(d)(vii). such amounts
shall be paid in a lump sum on the first payroll date following the date that Executive executes and does not revoke the Release
(and the applicable revocation period has expired) or, in the case of any payments subject to clause (C) of this Section 1(d)(vii)
on the first payroll period to occur in the subsequent taxable year, if later.

 

    	 	4	 

     

    

 

2.          Confidential
Information.

 

(a)          Obligation
to Maintain Confidentiality. Executive acknowledges that the information, observations and data (including trade secrets) obtained
by him during the course of his employment with Employer concerning the business or affairs of the Parent, Employer and their respective
Subsidiaries and Affiliates (“Confidential Information”) are the property of the Parent, Employer or such Subsidiaries
and Affiliates, including information concerning acquisition opportunities in or reasonably related to the Parent’s and Employer’s
business or industry of which Executive becomes aware during the Employment Period. Therefore, Executive agrees that he will not
disclose to any unauthorized Person or use for his own account any Confidential Information without the Board’s written consent,
unless and to the extent that the Confidential Information, (i) becomes generally known to and available for use by the public
other than as a result of Executive’s acts or omissions to act or (ii) is required to be disclosed pursuant to any applicable
law or court order. Executive shall deliver to Employer at a Separation, or at any other time Employer may reasonably request,
all memoranda, notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and copies
thereof) relating to the Confidential Information, Work Product (as defined below) or the business of the Parent, Employer and
their respective Subsidiaries and Affiliates (including, without limitation, all acquisition prospects, lists and contact information)
which he may then possess or have under his control.

 

(b)          Ownership
of Property. Executive acknowledges that all discoveries, concepts, ideas, inventions, innovations, improvements, developments,
methods, processes, programs, designs, analyses, drawings, reports, patent applications, copyrightable work and mask work (whether
or not including any confidential information) and all registrations or applications related thereto, all other proprietary information
and all similar or related information (whether or not patentable) that relate to the Parent’s, Employer’s or any of
their respective Subsidiaries’ or Affiliates’ actual or anticipated business, research and development, or existing
or future products or services and that are conceived, developed, contributed to, made, or reduced to practice by Executive (either
solely or jointly with others) while employed by the Parent, Employer or any of their respective Subsidiaries or Affiliates (including
any of the foregoing that constitutes any proprietary information or records) (“Work Product”) belong to the
Parent, Employer or such Subsidiary or Affiliate, and Executive hereby assigns, and agrees to assign, all of the above Work Product
to the Parent, Employer or to such Subsidiary or Affiliate. Any copyrightable work prepared in whole or in part by Executive in
the course of his work for any of the foregoing entities shall be deemed a “work made for hire” under the copyright
laws, and the Parent, Employer or such Subsidiary or Affiliate shall own all rights therein. To the extent that any such copyrightable
work is not a “work made for hire,” Executive hereby assigns and agrees to assign to the Parent, Employer or such Subsidiary
or Affiliate all right, title, and interest, including without limitation, copyright in and to such copyrightable work. Executive
shall promptly disclose such Work Product and copyrightable work to the Board and perform all actions reasonably requested by the
Board (whether during or after the Employment Period), at the expense of the Parent, to establish and confirm the Parent’s,
Employer’s or such Subsidiary’s or Affiliate’s ownership (including, without limitation, assignments, consents,
powers of attorney, and other instruments).

 

(c)          Third
Party Information. Executive understands that the Parent, Employer and their respective Subsidiaries and Affiliates will receive
from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on
the Parent’s, Employer’s and their respective Subsidiaries and Affiliates’ part to maintain the confidentiality
of such information and to use it only for certain limited purposes. During the Employment Period and thereafter, and without in
any way limiting the provisions of Section 2(a) above, Executive will hold Third Party Information in the strictest confidence
and will not disclose to anyone (other than personnel and consultants of the Parent, Employer or their respective Subsidiaries
and Affiliates who need to know such information in connection with their work for the Parent, Employer or their respective Subsidiaries
and Affiliates) or use, except in connection with his work for the Parent, Employer or their respective Subsidiaries and Affiliates,
Third Party Information unless expressly authorized by the Board in writing.

 

    	 	5	 

     

    

 

(d)          Use
of Information of Prior Employers. During the Employment Period, Executive will not improperly use or disclose any confidential
information or trade secrets, if any, of any former employers or any other Person to whom Executive has an obligation of confidentiality,
and will not bring onto the premises of the Parent, Employer or any of their respective Subsidiaries or Affiliates any unpublished
documents or any property belonging to any former employer or any other Person to whom Executive has an obligation of confidentiality
unless consented to in writing by the former employer or Person. Executive will use in the performance of his duties only information
which is (i) generally known and used by persons with training and experience comparable to Executive’s and which is (x)
common knowledge in the industry or (y) otherwise legally in the public domain, (ii) otherwise provided or developed by the Parent,
Employer or any of their respective Subsidiaries or Affiliates or (iii) in the case of materials, property or information belonging
to any former employer or other Person to whom Executive has an obligation of confidentiality, approved for such use in writing
by such former employer or Person. In furtherance of the foregoing, pursuant to the Original Senior Management Agreement, Executive
executed and delivered to Employer a certificate in the form of Exhibit F attached to the Original Senior Management Agreement.

 

(e)          Continuation
of Terms. Notwithstanding anything in this Agreement to the contrary, the parties hereto expressly acknowledge and agree that
the terms, conditions, obligations and covenants set forth in this Section 2 are a continuation without interruption, lapse,
reprieve, gap or modification of any kind of the terms, conditions, obligations and covenants set forth in Section 7 of
the Original Senior Management Agreement.

 

3.          Noncompetition
and Nonsolicitation. Executive acknowledges that in the course of his employment with Employer he will become familiar with
the Parent’s, Employer’s and their respective Subsidiaries’ trade secrets and with other confidential information
concerning the Parent, Employer and such Subsidiaries and that his services will be of special, unique and extraordinary value
to the Parent, Employer and such Subsidiaries. Therefore, Executive agrees that:

 

(a)          Noncompetition.
During the period beginning on the date hereof and continuing during the Employment Period and during the eighteen-month period
immediately following the Employment Period (such period, collectively with the Employment Period, is referred to herein as the
“Restricted Period”), Executive shall not, directly or indirectly, own, manage, control, participate in, consult
with, render services for, or in any manner engage in any business which competes anywhere in the United States with any of the
businesses of the Parent, Employer or any of their respective Subsidiaries or competing with any other business for which the Parent,
Employer or any of their respective Subsidiaries has engaged in discussions or has requested and received information relating
to the acquisition of such business by the Parent, Employer or any of their respective Subsidiaries within the eighteen- month
period immediately preceding the Separation. Nothing herein shall prohibit Executive from being a passive owner of not more than
2% of the outstanding stock of any class of a corporation that is publicly traded, so long as Executive has no active participation
in the business of such corporation.

 

    	 	6	 

     

    

 

(b)          Nonsolicitation.
During the Restricted Period, Executive shall not directly or indirectly through another entity (i) induce or attempt to induce
any employee of the Parent, Employer or any of their respective Subsidiaries to leave the employ of the Parent, Employer or such
Subsidiary, or in any way interfere with the relationship between the Parent, Employer or any of their respective Subsidiaries
and any employee thereof, (ii) hire any employee of the Parent, Employer or any of their respective Subsidiaries or hire any former
employee of the Parent, Employer or any of their respective Subsidiaries within one year after such person ceased to be an employee
of the Parent, Employer or any of their respective Subsidiaries, (iii) induce or attempt to induce any customer, supplier, licensee
or other business relation of the Parent, Employer or any of their respective Subsidiaries to cease doing business with the Parent,
Employer or such Subsidiary or in any way interfere with the relationship between any such customer, supplier, licensee or business
relation and the Parent, Employer or any such Subsidiary or (iv) directly or indirectly acquire or attempt to acquire an interest
in any business relating to the business of the Parent, Employer or any of their respective Subsidiaries and with which the Parent,
Employer or any of their respective Subsidiaries has engaged in discussions or has requested and received information relating
to the acquisition of such business by the Parent, Employer or any of their respective Subsidiaries at any time within the eighteen-month
period immediately preceding a Separation.

 

(c)          Enforcement.
If, at the time of enforcement of Section 2 or this Section 3. a court holds that the restrictions stated herein
are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration, scope or geographical area
reasonable under such circumstances shall be substituted for the stated period, scope or area and that the court shall be allowed
to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Because Executive’s
services are unique and because Executive has access to confidential information, the parties hereto agree that money damages would
be an inadequate remedy for any breach of this Agreement. Therefore, in the event a breach or threatened breach of this Agreement,
Employer and/or its respective successors or assigns may, in addition to other rights and remedies existing in their favor, apply
to any court of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce, or prevent
any violations of, the provisions hereof (without posting a bond or other security).

 

    	 	7	 

     

    

 

(d)          Additional
Acknowledgments. Executive acknowledges that the provisions of this Section 3 are in consideration of: (i) employment
with Employer and (ii) additional good and valuable consideration as set forth in this Agreement. In addition, Executive agrees
and acknowledges that the restrictions contained in Section 2 and this Section 3 do not preclude Executive from earning
a livelihood, nor do they unreasonably impose limitations on Executive’s ability to earn a living. In addition, Executive
acknowledges (x) that the business of the Parent, Employer and their respective Subsidiaries will be conducted throughout the United
States and other jurisdictions where the Parent, Employer or any of their respective Subsidiaries conduct business during the Employment
Period, (y) notwithstanding the state of organization or principal office of the Parent, Employer or any of their respective Subsidiaries,
or any of their respective executives or employees (including Executive), it is expected that the Parent, Employer and their respective
Subsidiaries will have business activities and have valuable business relationships within its industry throughout the United States
and other jurisdictions where the Parent, Employer or any of their respective Subsidiaries conduct business during the Employment
Period, and (z) as part of his responsibilities, Executive may be traveling throughout the United States and other jurisdictions
where the Parent, Employer or any of their respective Subsidiaries conduct business during the Employment Period in furtherance
of Employer’s business and its relationships. Executive agrees and acknowledges that the potential harm to the Parent, Employer
and their respective Subsidiaries of the non-enforcement of any provision of Section 2 or this Section 3 outweighs
any potential harm to Executive of its enforcement by injunction or otherwise. Executive acknowledges that he has carefully read
this Agreement and consulted with legal counsel of his choosing regarding its contents, has given careful consideration to the
restraints imposed upon Executive by this Agreement and is in full accord as to their necessity for the reasonable and proper protection
of confidential and proprietary information of the Parent, Employer and their respective Subsidiaries now existing or to be developed
in the future. Executive expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable
with respect to subject matter, time period and geographical area.

 

4.          Definitions.

 

“Affiliate”
means, with respect to any Person, (i) any other Person controlling, controlled by or under common control with such particular
Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies
of a Person whether through the ownership of voting securities, by contract, or otherwise, and (ii) if such Person is a partnership,
any partner thereof.

 

“Board”
means the board of directors of Parent.

 

“Cause”
means (i) (a) the conviction or plea of no contest for or indictment on a felony or a crime involving moral turpitude
or (b) the commission of any other act or omission involving (x) dishonesty that is reasonably likely to materially and
adversely affect the Parent, Employer or their respective Subsidiaries or (y) fraud, in either case, with respect to the Parent,
Employer or any of their respective Subsidiaries or any of their customers, vendors or employees, (ii) substantial and repeated
failure to perform duties of the office held by Executive as reasonably and expressly directed by the Board, provided that Executive
shall have the opportunity to address the Board before a termination pursuant to this clause (ii) becomes effective, (iii) gross
negligence or willful misconduct with respect to the Parent, Employer or any of their respective Subsidiaries or any of their customers,
vendors or employees, (iv) conduct which could reasonably be expected to bring the Parent, Employer or any of their respective
Subsidiaries into substantial public disgrace or disrepute, (v) any breach by Executive of Section 2 or Section 3
of this Agreement and/or (vi) a failure to observe the Parent’s, Employer’s or any of their respective Subsidiaries’
policies or standards regarding employment practices (including, without limitation, nondiscrimination and sexual harassment policies)
as approved by the Board from time to time.

 

    	 	8	 

     

    

 

“Disability”
means the disability of Executive caused by any physical or mental injury, illness or incapacity as a result of which Executive
is, or is reasonably expected to be, unable to effectively perform the essential functions of Executive’s duties for any
180 days (whether or not continuous) within a 365 day period, as determined by the Board in good faith.

 

“Good Reason”
means (i) a material reduction in Executive’s then effective Annual Base Salary, (ii) a material diminution in
Executive’s title, (iii) the assignment of duties to Executive materially inconsistent with his position as Chief Financial
Officer or (iv) the relocation of Executive’s principal office to a location which is more than 50 miles outside of
the Washington, D.C. metropolitan area, in each case, without the prior written consent of Executive; provided that in order for
an event to constitute Good Reason for any purpose hereunder, Executive must, within 60 days after Executive obtains actual knowledge
of the occurrence of such event, deliver a written notice to the Parent of his resignation, which resignation shall be effective
on the 30th day following the Parent’s receipt of such notice (or such earlier date as the Parent may specify in writing
to Executive following receipt of such notice) unless the Parent cures the condition prior to the expiration of the 30 day period.

 

“Parent”
means Cision Ltd., a Cayman Islands public company, or in the event Employer is no longer a Subsidiary of Cision Ltd., the Employer’s
direct parent company.

 

“Partnership”
means Canyon Holdings (Cayman), L.P., a Cayman Islands exempted limited partnership.

 

“Person”
means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization, investment fund, any other business entity and a governmental entity or any department,
agency or political subdivision thereof.

 

“Separation”
means Executive ceasing to be employed by the Parent, Employer and their respective Subsidiaries for any reason.

 

“Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association, or business entity of
which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence
of any contingency) to vote in the election of directors, managers, or trustees thereof is at the time owned or controlled, directly
or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if
a limited liability company, partnership, association, or other business entity (other than a corporation), a majority of partnership
or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or
more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association, or other business entity (other than a corporation)
if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other business
entity gains or losses or shall be or control any managing director or general partner of such limited liability company, partnership,
association, or other business entity. For purposes hereof, references to a “Subsidiary” of any Person shall
be given effect only at such times that such Person has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary”
refers to a Subsidiary of the Parent.

 

    	 	9	 

     

    

 

5.          Notices.
All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall
be in writing and shall be deemed to have been given when (i) delivered personally to the recipient, (ii) sent to the recipient
by reputable express courier service (charges prepaid), (iii) mailed to the recipient by certified or registered mail, return
receipt requested and postage prepaid, or (iv) telecopied to the recipient (with hard copy sent to the recipient by reputable
overnight courier service (charges prepaid) that same day) if telecopied before 5:00 p.m. Chicago, Illinois time on a business
day, and otherwise on the next business day. Such notices, demands and other communications shall be sent to the parties at the
addresses indicated below:

 

If to the Parent or Employer:

 

Cision US Inc.

130 E. Randolph St. 7th Floor

Chicago, IL 60601

	 	Phone:	(312) 382-2200
	 	Fax:	(312) 382-2201
	 	E-mail:	kevin.akeroyd@cision.com
	 	Attention:	Kevin Akeroyd

 

with a copy to:

 

Kirkland & Ellis LLP

300 North LaSalle

Chicago, IL 60654

	 	Facsimile:	(312) 862-2200
	 	Attention:	Stephen L. Ritchie, P.C.
	 	 	Mark A. Fennell, P.C.

 

If to Executive:

 

Jack Pearlstein

2171 Dunmore Lane, NW

Washington, DC 20007

 

or such other address or to the attention of
such other Person as the recipient party shall have specified by prior written notice to the sending party.

 

6.          General
Provisions.

 

(a)          Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable
law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other
jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision had never been contained herein.

 

    	 	10	 

     

    

 

(b)          Complete
Agreement. This Agreement, those documents expressly referred to herein, and other documents of even date herewith embody the
complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations
by or among the parties, written or oral, which may have related to the subject matter hereof in any way, provided, that
any other confidentiality, non-competition, or non-solicitation obligations of Executive with the Parent, Employer, or their respective
Affiliates shall not be so superseded or preempted.

 

(c)          No
Strict Construction; Descriptive Headings; Interpretation. The language used in this Agreement shall be deemed to be the language
chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied against any party.
The descriptive headings of this Agreement are inserted for convenience only and do not constitute a section of this Agreement.
The use of the word “including” in this Agreement shall be by way of example rather than by limitation. Any reference
in this Agreement to the “judgment” or “discretion” of a party shall mean the sole judgment or discretion
of such party.

 

(d)          Counterparts.
This Agreement may be executed in separate counterparts (including by means of facsimile), each of which is deemed to be an original
and all of which taken together constitute one and the same agreement.

 

(e)          Successors
and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable
by Executive, Employer, and their respective successors and assigns; provided that the rights and obligations of Executive
under this Agreement shall not be assigned or delegated.

 

(f)          Choice
of Law. The laws of the State of Delaware will govern all questions concerning the relative rights of the Employer and Executive
and all other questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto, without
giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the State of Delaware.

 

(g)          Jurisdiction;
Venue; Service of Process. Each party hereto agrees that any action between the parties hereto arising out of or related to
this Agreement it may bring in the Court of Chancery of the State of Delaware (the “Court of Chancery”) or,
to the extent the Court of Chancery does not have subject matter jurisdiction, the United States District Court for the District
of Delaware and the appellate courts having jurisdiction of appeals in such courts (the “Delaware Federal Court”)
or, to the extent neither the Court of Chancery nor the Delaware Federal Court has subject matter jurisdiction, the Superior Court
of the State of Delaware (the “Chosen Courts”), and, solely with respect to any such action (i) irrevocably
submits to the non-exclusive jurisdiction of the Chosen Courts, (ii) waives any objection to laying venue in any such action
in the Chosen Courts, (iii) waives any objection that the Chosen Courts are an inconvenient forum or do not have jurisdiction
over any party hereto and (iv) agrees that service of process upon such party in any such action shall be effective if notice
is given in accordance with Section 5.

 

    	 	11	 

     

    

 

(h)          MUTUAL
WAIVER OF JURY TRIAL. BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY
RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES HERETO WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN
ARBITRATION RULES), THE PARTIES HERETO DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE,
TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS AGREEMENT HEREBY
WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE
PARTIES HERETO, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THIS
AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND/OR THE RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER.

 

(i)          Executive’s
Cooperation. During the Employment Period and thereafter, Executive shall cooperate with the Parent, Employer and their respective
Subsidiaries and Affiliates in any disputes with third parties, internal investigation or administrative, regulatory or judicial
proceeding as reasonably requested by the Parent (including, without limitation, Executive being available to the Parent upon reasonable
notice for interviews and factual investigations, appearing at the Parent’s reasonable request to give testimony without
requiring service of a subpoena or other legal process, volunteering to the Parent all pertinent information and turning over to
the Parent all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are
reasonably consistent with Executive’s other permitted activities and commitments). In the event the Parent requires Executive’s
cooperation in accordance with this paragraph after the Employment Period, the Parent shall reimburse Executive for reasonable
travel expenses (including lodging and meals, upon submission of receipts).

 

(j)          Remedies.
Each of the parties to this Agreement will be entitled to enforce its rights under this Agreement specifically, to recover damages
and costs (including attorney’s fees) caused by any breach of any provision of this Agreement and to exercise all other rights
existing in its favor. The parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach
of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent
jurisdiction (without posting any bond or deposit) for specific performance and/or other injunctive relief in order to enforce
or prevent any violations of the provisions of this Agreement.

 

(k)          Amendment
and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the Parent, Employer
and Executive.

 

    	 	12	 

     

    

 

(l)          Insurance.
The Parent or Employer, at its discretion, may apply for and procure in its own name and for its own benefit life and/or disability
insurance on Executive in any amount or amounts considered available. Executive agrees to cooperate in any medical or other examination,
supply any information, and to execute and deliver any applications or other instruments in writing as may be reasonably necessary
to obtain and constitute such insurance. Executive hereby represents that he has no reason to believe that his life is not insurable
at rates now prevailing for healthy men of his age.

 

(m)          Business
Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or holiday
in the state in which the Parent’s chief executive office is located, the time period shall be automatically extended to
the business day immediately following such Saturday, Sunday or holiday.

 

(n)          Indemnification
and Reimbursement of Payments on Behalf of Executive. The Parent, Employer and their respective Subsidiaries shall be
entitled to deduct or withhold from any amounts owing from the Parent, Employer or any of their respective Subsidiaries to Executive
(including withholding shares or other equity securities in the case of issuances of equity by the Parent, Employer or any of their
respective Subsidiaries) any federal, state, local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”)
imposed with respect to Executive’s compensation or other payments from the Parent, Employer or any of their respective Subsidiaries,
including, without limitation, wages, bonuses, distributions, the receipt or exercise of equity options and/or the receipt or vesting
of restricted equity. In the event any such deductions or withholdings are not made, Executive shall indemnify the Parent, Employer
and each of their respective Subsidiaries for any amounts paid with respect to any such Taxes, together with any interest, penalties
and related expenses thereto.

 

(o)          Termination.
This Agreement (except for the provisions of Sections 1(a) and 1(b)) shall survive a Separation and shall remain
in full force and effect after such Separation.

 

(p)          Electronic
Delivery. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection
herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered
by means of a photographic, photostatic, facsimile, portable document format (.pdf), or similar reproduction of such signed writing
using a facsimile machine or electronic mail shall be treated in all manner and respects as an original agreement or instrument
and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.
At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute
original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise
the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument
was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability
of a contract and each such party forever waives any such defense.

 

(q)          No
Third-Party Beneficiaries. Except as expressly provided herein, no term or provision of this Agreement is intended to be, or
shall be, for the benefit of any Person not a party hereto, and no such other Person shall have any right or cause of action hereunder.

 

(r)          Representations.
Executive represents and warrants to Employer that (i) this Agreement constitutes the legal, valid and binding obligation of Executive,
enforceable in accordance with its terms, and the execution, delivery and performance of this Agreement by Executive does not and
will not conflict with, violate or cause a breach of any agreement, contract or instrument to which Executive is a party or any
judgment, order or decree to which Executive is subject, and (ii) other than the A&R Senior Management Agreement, Executive
is neither party to, nor bound by, any other employment agreement, consulting agreement, noncompete agreement, non-solicitation
agreement or confidentiality agreement or any other agreement which could impair or interfere with Executive’s obligations
hereunder.

 

* * * * * *

 

    	 	13	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Employment Agreement as of the date first above written.

 

	 	CISION US INC.
	 	 	 
	 	By:	 /s/ Kevin Akeroyd
	 	Name:	Kevin Akeroyd
	 	Its:	Chief Executive Officer
	 	 	 
	 	 /s/ Jack Pearlstein
	 	Jack Pearlstein

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