Document:

EX-4.14

 Exhibit 4.14 
  

WPP PLC 
  

			
	  	  	 
	  	  	  

 THE WPP 2008 EXECUTIVE STOCK
OPTION PLAN 
 As approved by shareholders of WPP Group plc on 30 October 2008 prior to the introduction of a new
holding company by a scheme of arrangement under part 26 of the Companies Act 2006 as approved by the shareholders of WPP plc on 30 September 2008 and adopted by the Board of Directors of WPP plc on 30 September 2008 and as amended by
resolutions of the Compensation Committee dated 3 March 2009 and 11 May 2010 and by written resolutions dated 22 November 2011 and 12 November 2012 

HMRC reference for approved section (appendix 1): X104196 

 

			
	  	  	 
	  	  	  

  
 Squire Sanders (UK) LLP 
 7 Devonshire Square 

London 
 EC2M 4YH 

United Kingdom 
 DX 136546 Bishopsgate
2 
 Office: +44 (0)20 7655 1000 
 Fax:     +44 (0)20 7655 1001 
 Reference WPP.002-1470 

 CONTENTS 
  

			
	 1       DEFINITIONS AND INTERPRETATION
	  	1
		
	 2       ELIGIBILITY
	  	3
		
	 3       GRANT OF OPTIONS
	  	3
		
	 4       LIMITS
	  	4
		
	 5       PERFORMANCE CONDITIONS
	  	6
		
	 6       EXERCISE OF OPTIONS
	  	6
		
	 7       TAKEOVER, RECONSTRUCTION AND WINDING-UP
	  	8
		
	 8       VARIATION OF CAPITAL
	  	9
		
	 9       ALTERATIONS
	  	9
		
	 10     MISSTATEMENT
	  	10
		
	 11     MISCELLANEOUS
	  	10
		
	 12     WITHHOLDING
	  	11
		
	 APPENDIX 1
	  	13
		
	 APPENDIX 2
	  	18
		
	 APPENDIX 3
	  	19
		
	 APPENDIX 4
	  	20
		
	 APPENDIX 5
	  	21
		
	 APPENDIX 6
	  	23
		
	 APPENDIX 7
	  	23
		
	 APPENDIX 8
	  	23
		
	 APPENDIX 9
	  	24
		
	 APPENDIX 10
	  	24
		
	 APPENDIX 11
	  	24
		
	 APPENDIX 12
	  	25
		
	 APPENDIX 13
	  	25
		
	 APPENDIX 14
	  	25
		
	 APPENDIX 15
	  	25
		
	 APPENDIX 16
	  	26
		
	 APPENDIX 17
	  	26

  
 i 

	1	 DEFINITIONS AND INTERPRETATION 

  

	1.1	 In this Plan, unless the context otherwise requires: 

“Act” means the Companies Act 1985 as amended; 

“Board” means the board of directors of the Company or a committee appointed by such board of directors;

 “Company” means 
  

	 	(a)	 for the period between 19 November 2008 and the Effective Date, the reference shall be to WPP plc, a public limited company incorporated in Jersey with
registered number 101749, to be re-named WPP 2012 plc; and 

  

	 	(b)	 for the period from and including the Effective Date the reference shall be to WPP plc, a public limited company incorporated in Jersey with registered number
111714;1 

“Constituent Company” means the Company or any Subsidiary; 

“Depositary” means any depositary or depositaries which hold or whose nominee holds WPP ADRs; 

“Effective Date” means the date on which the Scheme, as set out in part 3 of the circular to share owners of WPP
plc, a company registered in Jersey with company number 101749, relating to the recommended proposals for the introduction of a new parent company becomes effective, expected to be 2 January 2013;2 

“Grant Date” in relation to an Option means the date on which the Option was granted; 

“Group Member” means: 
  

	 	(a)	 a Constituent Company or a body corporate which is (within the meaning of section 736 of the Act or, as the context may require, Articles 2 and 2A of the
Companies (Jersey) Law 1991) the Company’s holding company or a subsidiary of the Company’s holding company; or 

  

	 	(b)	 a body corporate which is (within the meaning of section 258 of the Act or, as the context may require, Articles 2 and 2A of the Companies (Jersey) Law 1991)
a subsidiary undertaking of a body corporate within paragraph (a) above and has been designated by the Board for this purpose; 

 “ITEPA” means the Income Tax (Earnings and Pensions) Act 2003; 

“Key Feature” means a provision of the Plan which is necessary in order to meet the requirements of Schedule 4;

 “Official List” means the Daily Official List of the United Kingdom Listing Authority, a division of
the Financial Services Authority; 3 

 

	1 	 Amended by Resolution of the Compensation Committee dated 12 November 2012. 

	2 	 Inserted by Resolution of the Compensation Committee dated 12 November 2012. 

	3 	 Inserted by Resolution of the Compensation Committee dated 11 May 2010. 

  
 1 

 “Option” means a right to acquire Shares or WPP ADRs under the Plan;
and a right to acquire Shares shall be known as a “Share Option” and a right to acquire WPP ADRs shall be known as an “ADR Option”; 
 “Original Accounts” means any accounts or other data used to assess the extent to which a Relevant Performance Condition is satisfied; 4 

“Participant” means a person who holds an Option granted under the Plan; 

“Performance Related Remuneration” means any element of the Participant’s remuneration (for the avoidance of
doubt, payable in cash or shares and including, for the avoidance of doubt, any Option) where the payment, or the extent of the payment, of that remuneration is determined, at least in part, by reference to a Relevant Performance Condition; 5 
 “Plan” means the WPP 2008 Executive Stock Option Plan as herein set out but subject to any alterations or additions made under Rule 9 below; 

“Relevant Performance Condition” means a condition or term which affects the amount of any remuneration of a
Participant (for the avoidance of doubt payable in cash or shares) that vests, is exercisable or receivable and which depends on any measure of performance including the financial performance of the Company, any Group Member or any business (or any
part of any business) of any Group Member;6 

“Schedule 4” means Schedule 4 to ITEPA; 

“Schedule 9” means Schedule 9 to the Taxes Act 1988; 

“Scheme” means a scheme of arrangement under Article 125 of the Companies (Jersey) Law 1991 or with or subject to
any modification, addition or condition approved or imposed by the Royal Court of Jersey relating to proposals for the introduction of a new parent company;7 

“Share” means an ordinary share in the capital of the Company and for the purposes of Rule 4 (Limits) and, if the
context requires, other provisions of the Rules, “Shares” include WPP ADRs; 
 “Specified Age”
means 65 years of age; 
 “Subsidiary” means a body corporate which is a subsidiary of the Company within
the meaning of section 736 of the Act or, as the context may require, Articles 2 and 2A of the Companies (Jersey) Law 1991; 
 “Taxes Act 1988” means the Income and Corporation Taxes Act 1988; 

“Treasury Shares” means any Shares which are purchased by the Company in accordance with Article 57 of the
Companies (Jersey) Law 1991 and held by the Company as treasury shares pursuant to Article 58A of the Companies (Jersey) Law 1991; 
 “WPP ADR” means an American Depositary Receipt representing, for the time being, 5 Shares deposited with Citibank NA as depositary pursuant to the Deposit Agreement between the Company and Citibank
NA dated as of 2 January 20138 as amended from time to time and/or any
other American depositary receipt arrangement sponsored by the Company; 
  

	4 	 Inserted by Resolution of the Compensation Committee dated 11 May 2010. 

	5 	 Inserted by Resolution of the Compensation Committee dated 11 May 2010. 

	6 	 Inserted by Resolution of the Compensation Committee dated 11 May 2010. 

	7 	 Inserted by Resolution of the Compensation Committee dated 12 November 2012. 

	8 	 Amended by Resolution of the Compensation Committee dated 12 November 2012. 

  
 2 

 and expressions not otherwise defined herein have the same meanings as they have in
Schedule 4. 
  

	1.2	 Any reference in the Plan to any enactment includes a reference to that enactment as from time to time modified, extended or re-enacted.

  

	1.3	 The Plan has been adopted in substitution for the WPP 2005 Executive Stock Option Plan, under which no further grants of options will be made.

  

	2	 ELIGIBILITY 

  

	2.1	 Subject to Rule 2.2 below, a person is eligible to be granted an Option under the Plan if (and only if) he is an executive director or employee of a
Constituent Company. 

  

	2.2	 No person is entitled, by virtue of the provisions of the Plan or any other means, to participate as of right in the Plan through the grant of an Award and
consequently the receipt of an Award shall in no circumstances give or imply any right to receive any further award and any further right that is in fact granted to the same Participant may be on the same or on different terms.

  

	3	 GRANT OF OPTIONS 

  

	3.1	 Subject to Rules 3.2 and 3.5 below and Rule 4 below, the Board may grant or procure the grant to any person who is eligible to be granted an Option under the
Plan a Share Option or an ADR Option, upon the terms set out in the Plan; and for this purpose a Share Option to acquire means an option to subscribe for Shares or receive the transfer of Treasury Shares or other Shares as determined by the Board
from time to time. 

  

	3.2	 An Option may only be granted under the Plan: 

  

	 	(a)	 within the period of 6 weeks beginning with the date on which the Plan is adopted by the Board or the 6 week period beginning with the dealing day next
following the date on which the Company announces its interim or final results for any period, or at any other time when the circumstances are considered by the Board to be sufficiently exceptional to justify the grant thereof; and

  

	 	(b)	 within the period of 10 years beginning with the date on which the Plan is approved by shareholders. 

 

	3.3	 The price at which Shares may be acquired by the exercise of an Option shall be determined by the Board before the grant thereof, but shall not be less than:

  

	 	(a)	 in the case of a Share Option, if Shares of the same class as those Shares are listed in the Official List9, the lower of the two prices shown for the Shares on that day plus one quarter of the difference between them (as derived from
that list or other reputable market source that is able to provide the relevant information at a more appropriate time, even though that source may not be able to guarantee that the information provided will be identical to that subsequently
published in that list) on the Grant Date; 

  

 

	9 	 Amended by Resolution of the Compensation Committee dated 11 May 2010. 

  
 3 

	 	(b)	 in the case of a Share Option, if paragraph (a) above does not apply, the market value (within the meaning of Part VIII of the Taxation of Chargeable
Gains Act 1992) of Shares of that class at the relevant Grant Date, as reasonably determined by the Board; 

  

	 	(c)	 in the case of an ADR Option, the fair market value of a WPP ADR as quoted on NASDAQ National Market System over a number of consecutive dealing days (being
not more than five) immediately preceding or ending on the Grant Date; or 

  

	 	(d)	 except in the case of an Option to acquire Shares otherwise than by subscription, the nominal value of those Shares. 

 

	3.4	 An Option granted under the Plan to any person: 

  

	 	(a)	 shall not, except as provided in Rule 6.3 below, be capable of being transferred by him; and 

 

	 	(b)	 shall lapse immediately if he is adjudged bankrupt. 

  

	3.5	 An Option granted under the Plan to a person shall lapse if that person ceases to be a director or employee of a Group Member, other than by reason of his
death, injury or disability, within six months of the Grant Date unless the Board shall determine otherwise. 

  

	3.6	 Except as referred to in Rule 7.4 and paragraph 17 of Appendix 1, no new Options may be granted under the Plan after the Effective Date.10 

 
  

	4	 LIMITS 

  

	4.1	 The number of Shares in respect of which Options may be granted under the Plan on any day which are to be satisfied by the issue of Shares when added to the
aggregate of: 

  

	 	(a)	 the number of Shares which immediately prior to that day have been or are to be issued to satisfy outstanding Options under the Plan; and

  

	 	(b)	 the number of Shares which immediately prior to that day have been or are to be issued to satisfy options or awards granted or made under any other
employees’ share scheme of any Group Member in the ten years immediately before that day; 

 shall
not exceed 10% of the issued ordinary share capital of the Company for the time being. 
  

	4.2	 The aggregate market value of the Shares subject to an Option granted under the Plan on any day to a Participant may not, when added to the aggregate market
value of the Shares (valued at the date or dates of grant of the relevant Option or Options) which are or have been subject to options granted to him within the preceding twelve months under the Plan or any Relevant Scheme, exceed four times his
Annual Remuneration. For the purposes of this Rule 4.2 the following terms will have the following meanings: 

  

			
	 “Annual Remuneration”
	  	 in relation to a Participant, the gross rate of basic annual salary (excluding any bonuses, company pension contributions and any other benefits in kind) payable to the
relevant Eligible Employee by any Group Company as at the relevant Grant Date;

 

	10 	 Inserted by Resolution of the Compensation Committee dated 12 November 2012. 

  
 4 

			
	 “Relevant Scheme”
	  	 any employees’ share scheme (within the meaning given to that term in section 743 of the Act or, as the context may require, Article 58A of the Companies (Jersey)
Law 1991) established by any Group Member (other than savings-related schemes or profit sharing schemes approved by the Inland Revenue under Schedule 9 to the Taxes Act 1988 or Schedule 3 to ITEPA or any other schemes linked to contractual savings
schemes or any share incentive plans approved by HM Revenue & Customs under Schedule 8 to the Finance Act 2000 or Schedule 2 to ITEPA);

 and for the purposes of this Rule: 

 

	 	(a)	 any Option which shall have been released to any extent shall be treated to that extent as if it were still exercisable; 

 

	 	(b)	 shares in a Constituent Company shall not be regarded as benefits in kind; 

 

	 	(c)	 where a payment of remuneration is made otherwise than in sterling, the payment shall be treated as being of the amount of sterling ascertained by applying
such rate of exchange for that day published in a national newspaper as the Board shall reasonably determine; and 

  

	 	(d)	 a person’s remuneration shall be deemed to include fees paid to a company whose principal purpose is to provide his services being services of a nature
which he would be expected to perform as an employee of a Constituent Company, and being fees referable to those services and exclusive of VAT. 

  

	4.3	 For the purposes of this Rule, the market value of the Shares in relation to which an Option was granted shall be calculated: 

 

	 	(a)	 in the case of an Option granted under the Plan, as of the day by reference to which the price at which Shares may be acquired by the exercise thereof was
determined in accordance with Rule 3.3 above; 

  

	 	(b)	 in the case of an option granted under any option scheme (other than a savings related scheme) approved by HM Revenue & Customs, as at the time when
it was granted or, in a case where an agreement relating to the Shares has been made under paragraph 29 of Schedule 9 or paragraph 22 of Schedule 4, such earlier time or times as may be provided in the agreement; and 

 

	 	(c)	 in the case of any other option, as on the day or days by reference to which the price at which Shares may be acquired by the exercise thereof was determined;

 and the Board may adopt such exchange rate as it thinks fit for the conversion of one currency to
another currency. 
  

	4.4	 For the purpose of this Rule 4, any Treasury Shares which are or are to be transferred for the purpose of satisfying options or other awards shall be taken as
being Shares that are issued or to be issued for that purpose. 

  

	4.5	 All Options granted under the Plan shall be regarded for the purposes of this Rule 4 as Options that will involve the issue of new Shares unless and until the
Board determines that the Option will be satisfied by the transfer of Shares (or WPP ADRs which have not been created using 

  
 5 

	 	 
new Shares issued for the purpose of satisfying options or awards under employee share schemes). The Board may only make such a determination in respect of an Option that has already been issued
if it has made arrangements under which the relevant Shares or WPP ADRs will be available when required. 

  

	4.6	 Any Option granted under the Plan shall be limited and take effect so that the above limits are complied with (with all Options being granted on the same day
being scaled back on a pro-rata basis and rounded down to the nearest whole Share or WPP ADR). 

  

	5	 PERFORMANCE CONDITIONS 

  

	5.1	 An Option granted under the Plan to a director of the Company may not be exercised if the relevant condition is not satisfied; and in this Rule “the
relevant condition” is the condition in Appendix 511 or such other
objective condition relating to performance as may be specified by the Board at the time of the grant of that Option. 

  

	5.2	 In determining whether the relevant condition has been met where an Option is to be exercised in accordance with any of Rules 6.3, 6.4(a), 6.4(b), 6.4(c), 7.1
and 7.3, the Board may determine that the relevant condition should be adjusted on a pro-rated basis to allow for any reduction in time between the Grant Date and the date of cessation, compared to the time between Grant Date and the end of the
performance period. Where such a determination is made, the Board shall be entitled to take into account such information relating to the performance of the Company as it considers to be appropriate and may adjust the method of assessment of the
performance condition as it considers to be appropriate to the circumstances (so that, for example, if the cessation occurs one month after the end of the accounting period in which the Option was granted, the Board may assess the satisfaction of
the relevant condition from the earnings of the Company for the accounting period in which the Option was granted without reference to the performance in the following month). 

 

	5.3	 The Board may at the time of grant of any Option, impose conditions on that grant relating to performance and specify terms relating to how those conditions
interact with the other provisions of the Plan. 

  

	6	 EXERCISE OF OPTIONS 

  

	6.1	 The exercise of any Option granted under the Plan shall be effected in such form and manner as the Board may from time to time prescribe.

  

	6.2	 Subject to Rules 6.3 and 6.4 below and to Rules 7.1 and 7.3 below, an Option granted under the Plan may not be exercised before the third anniversary of the
Grant Date. 

  

	6.3	 Subject to Rule 5 above, if any Participant dies before exercising an Option granted to him under the Plan and at a time when either he is a director or
employee of a Group Member or he is entitled to exercise the Option by virtue of Rule 6.4 below, the Option may (and must, if at all) be exercised by his personal representatives within 12 months after the date of his death.

  

	6.4	 If any Participant ceases to be a director or employee of a Group Member (otherwise than by reason of his death), the following provisions apply in relation
to any Option granted to him under the Plan: 

  

	 	(a)	 if he so ceases by reason of injury or disability, or by reason only that his office or employment is in a company which ceases to be a Group Member, or
relates to a 

  

	11 	 Numbering amended by Resolution of the Compensation Committee dated 3 March 2009. 

  
 6 

	 	 
business or part of a business which is transferred to a person who is not a Group Member, subject to Rule 5 above, the Option may (and subject to Rule 6.3 above must, if at all) be exercised
within the exercise period; 

  

	 	(b)	 if he so ceases by reason of retirement on or after reaching the retirement age (if any) as specified in his contract of employment (or, if there is no such
age, if he retires at all) in each case more than six months after the Grant Date subject to Rule 5 above, the Option may (and subject to Rule 6.3 above must, if at all) be exercised within the exercise period; and 

 

	 	(c)	 if he so ceases for any other reason, the Option may not be exercised at all unless the Board shall so permit, in which event, subject to Rule 5 above, it may
(and subject to Rule 6.3 above must, if at all) be exercised to the extent permitted by the Board within the exercise period; 

 and in this Rule the “exercise period” is the period which commences on the date of cessation of employment and expires 6 months after such date. 

 

	6.5	 Subject to Rule 6.6 below, a Participant shall not be treated for the purposes of Rule 6.4 above as ceasing to be a director or employee of a Group Member
until such time as he is no longer a director or employee of any Group Member and a female Participant who ceases to be such a director or employee by reason of pregnancy or confinement and who exercises her right to return to work under the
Employment Rights Act 1996 (or any equivalent legislation in any jurisdiction) before exercising an Option under the Plan shall be treated for those purposes as not having ceased to be such a director or employee. 

 

	6.6	 Other than in respect of Options granted under the Approved Part, a Participant who gives or is given notice to leave employment as a director or employee of
a Group Member in any circumstances other than death or in those circumstances referred to in Rule 6.4(a) or 6.4(b), shall, if he subsequently ceases to be in such employment, be treated for the purposes of Rule 6.4 above as ceasing to be a director
or employee of a Group Member on the date on which that notice is given (and for the avoidance of doubt any purported exercise by him of an Option during the period of notice shall be of no effect). If a Participant gives or is given notice to leave
employment as a director or employee of a Group Member and the Board subsequently uses its discretion under Rule 6.4(c) to allow his Option to be exercisable, nothing in this Rule 6.6 will make his Option lapse or cease to be exercisable.

  

	6.7	 Notwithstanding any other provision of the Plan, an Option granted under the Plan may not be exercised after the expiration of the period of 10 years (or such
shorter period as the Board may have determined before the grant thereof) beginning with the Grant Date. 

  

	6.8	 Within 30 days after an Option under the Plan has been exercised by any person, the grantor of the Option shall, subject to such adjustment as may be required
pursuant to Rule 10.312, in the case of a Share Option, procure the allotment
or transfer to him (or a nominee for him) of the number of Shares in respect of which the Option has been exercised and, in the case of an ADR Option, procure the issue or transfer to him of WPP ADRs in respect of which the Option has been exercised
(including, if appropriate, by procuring the allotment or transfer of Shares to a Depositary) unless: 

  

	 	(a)	 the Board considers that the issue or transfer thereof would not be lawful in all relevant jurisdictions; or 

 

	12 	 Amended by Resolution of the Compensation Committee dated 11 May 2010. 

  
 7 

	 	(b)	 in a case where a Group Member is obliged to account for any tax (in any jurisdiction) for which the person in question is liable by virtue of the exercise of
the Option, that or another Group Member is unable to withhold the tax from his remuneration nor has received payment from him of a corresponding amount. 

 

	6.9	 All Shares allotted under the Plan shall rank pari passu in all respects with the Shares of the same class for the time being in issue save as regards any
rights attaching to such Shares by reference to a record date prior to the date of the allotment. 

  

	6.10	 If Shares of the same class as those allotted under the Plan are listed in the Official List13, the Company shall apply to the London Stock Exchange for any Shares so allotted to be admitted to that list.

  

	6.11	 Where any Option becomes exercisable by reason of the provisions of Rules 6.3 or 6.4, the number of Shares or WPP ADRs in respect of which the Option may be
exercised shall be reduced on a pro-rated basis to take account of the fact that the Participant ceased to be a director or employee of a Group Member before the date on which the Option would have become exercisable had the Participant not ceased
to be a director or employee of a Group Member (calculated on the basis of the number of days until the date of such cessation compared to the number of days in the whole period between the Grant Date and the date on which the Option becomes
exercisable) unless the Board determines to the contrary. 

  

	7	 TAKEOVER, RECONSTRUCTION AND WINDING-UP 

  

	7.1	 if any person obtains control of the Company (within the meaning of section 719 of the Income Tax (Earnings and Pensions) Act 2003) as a result of making a
general offer to acquire Shares in the Company, or having obtained such control makes such an offer, the Board shall within 7 days of becoming aware thereof notify every Participant thereof and, subject to Rule 5 above and Rules 6.3, 6.4, 6.6 and
6.7 above, an Option granted under the Plan may be exercised within one month (or such longer period as the Board may permit) of such notification. 

  

	7.2	 For the purposes of Rule 7.1 above, a person shall be deemed to have obtained control of the Company if he and others acting in concert with him have together
obtained control of it. 

  

	7.3	 If any person becomes bound or entitled to acquire Shares in the Company under Part 18 of the Companies (Jersey) Law 1991 (provided that at the time of such
event H M Revenue & Customs accepts such provisions as equivalent to section 979 of the Companies Act 2006), or if the Court sanctions a compromise or arrangement proposed for the purposes of or in connection with a scheme for the
reconstruction of the Company or its amalgamation with any other company or companies under Part 18A of the Companies (Jersey) Law 1991 (provided that at the time of such event H M Revenue & Customs accepts such provisions as equivalent to
Part 26 of the Companies Act 2006), or if the Company passes a resolution for the winding up of the Company or the assets of the Company are declared en désastre, the Board shall forthwith notify every Participant thereof and any Option
granted under the Plan may, subject to Rule 5 above and Rules 6.3, 6.4 and 6.6 above, be exercised within one month of such notification, but to the extent that it is not exercised within that period shall (notwithstanding any other provision of the
Plan) lapse on the expiration thereof. 

  

	7.4	 The Board may determine (the determination to apply equally to all Options outstanding at the time) that the provisions of Rules 7.1 and 7.3 above will
neither cause Options to become exercisable nor to lapse at different times than would otherwise be the case, if the Board considers that the Options will continue to be an appropriate incentive notwithstanding the 

 

	13 	 Amended by Resolution of the Compensation Committee dated 11 May 2010. 

  
 8 

	 	 
changed circumstances, or that the position of Participants can be adequately preserved by the grant to them of some other right or rights in substitution for or addition to the existing rights.

  

	7.5	 Where any Option becomes exercisable before the end of the period referred to in Rule 6.2 by reason of the provisions of Rules 7.1 or 7.3, the number of
Shares or WPP ADRs in respect of which the Option may be exercised shall be reduced on a pro-rated basis to take account of the early date on which the Option may be exercised (calculated on the basis of the number of days until the end of the
period compared to the number of days in the whole period). 

  

	8	 VARIATION OF CAPITAL 

  

	8.1	 In the event of any increase or variation of the share capital of the Company (whenever effected), the Board may make such adjustments as it considers
appropriate under Rule 8.2 below provided that the auditors or other financial advisers appointed by the Board acting as experts and not as arbitrators confirm that in their opinion the variation is fair and reasonable and such confirmation shall be
final and binding. 

  

	8.2	 An adjustment made under this Rule shall be to one or more of the following: 

 

	 	(a)	 the number and description of Shares in respect of which any Option granted under the Plan may be exercised; 

 

	 	(b)	 the price at which Shares may be acquired by the exercise of any such Option; and/or 

 

	 	(c)	 where any such Option has been exercised, but no Shares have been allotted or transferred pursuant to such exercise, the number and description of Shares
which may be so allotted or transferred and the price at which they may be acquired. 

  

	8.3	 An adjustment under Rule 8.2 above may have the effect of reducing the price at which Shares may be acquired by the exercise of an Option to less than their
nominal value, but only if and to the extent that the Board shall be authorised to capitalise from the reserves of the Company a sum equal to the amount by which the nominal value of the Shares in respect of which the Option is exercised and which
are to be allotted pursuant to such exercise exceeds the price at which the same may be subscribed for and to apply such sum in paying up such amount on such Shares; and so that on exercise of any Option in respect of which such a reduction shall
have been made the Board shall capitalise such sum (if any) and apply the same in paying up such amount as aforesaid. 

  

	8.4	 As soon as reasonably practicable after making any adjustment under Rule 8.2 above, the Board shall give notice in writing thereof to any Participant affected
thereby. 

  

	9	 ALTERATIONS 

  

	9.1	 Subject to Rule 9.2 below, the Board may at any time alter or add to all or any of the provisions of the Plan, or the terms of any Option granted under it, in
any respect. 

  

	9.2	 No alteration or addition to the advantage of Participants or potential Participants shall be made under Rule 9.1 above to any Rule of the Plan without the
prior approval by ordinary resolution of the members of the Company in general meeting other than a minor amendment to benefit the administration of the Plan, to take account of a change in legislation, or to obtain or maintain favourable tax,
exchange control or regulatory treatment for any Participant or any Group Member. 

  
 9 

	9.3	 As soon as reasonably practicable after making any alteration or addition under Rule 9.1 above, the Board shall give notice in writing thereof to any
Participant affected thereby. 

  

	10	 MISSTATEMENT14 

  

	10.1	 The provisions of 10.2 will apply if: 

  

	 	(a)	 a Participant has committed an act of fraud, dishonesty or deceit in relation to a Group Member; 

 

	 	(b)	 as a result of the actions or omissions of a Participant, any Original Accounts are required to be materially corrected, or any accounts or other data for a
later period include write downs, adjustments or other items; or 

  

	 	(c)	 a Participant knew or ought reasonably to have known, given that Participant’s role and position in the Group, that the relevant financial performance or
other data by reference to which a Relevant Performance Condition was measured was materially different than shown in the Original Accounts; 

 and the Compensation Committee considers that the quantum of any Performance Related Remuneration of that Participant would have been affected if the circumstance or circumstances referred to in (a), (b) or
(c) above had been known of, acted upon or otherwise taken into account at the relevant time. 
  

	10.2	 In the event that the Compensation Committee determines that it would be clear to a reasonable, objective assessor that one of the events as detailed in Rule
10.1 above has occurred the Compensation Committee shall be entitled, but in no circumstances shall be obliged, to take action as described in Rule 10.3 below. 

 

	10.3	 The Compensation Committee may determine that: 

  

	 	(a)	 an Option is cancelled in its entirety; or 

  

	 	(b)	 the number of Shares in respect of which an Option may be exercised will be reduced by such amount and/or in such manner as the Compensation Committee
determines. 

 For the avoidance of doubt, this Rule 10.3 may be operated in respect of Options where
the event or events in respect of which the Compensation Committee has made a determination under Rule 10.2 relates to Performance Related Remuneration under another Option or another plan. 

 

	11	 MISCELLANEOUS 

  

	11.1	 The rights and obligations of any individual under the terms of his office or employment with any Group Member shall not be affected by his participation in
the Plan or any right which he may have to participate therein, and an individual who participates therein shall by participating be deemed to waive any and all rights to compensation or damages in consequence of the termination of his office or
employment for any reason whatsoever insofar as those rights arise or may arise from his ceasing to have rights under or be entitled to exercise any Option under the Plan as a result of such termination. Any benefit under the Plan shall not be
regarded as salary or counted for pension or any other purpose. Participation in the Plan by any individual is 

 

	14 	 Inserted by Resolution of the Compensation Committee dated 11 May 2010. 

  
 10 

	 	 
entirely at the discretion of the Board and in no circumstances shall the fact that an individual has received an Option or Options in the past give that individual any right to receive a further
Option or Options. 

  

	11.2	 In the event of any dispute or disagreement as to the interpretation of the Plan, or as to any question or right arising from or related to the Plan, the
decision of the Board shall be final and binding upon all persons. 

  

	11.3	 The Company and any Subsidiary may provide money to the trustees of any trust or any other person to enable them or him to acquire Shares to be held for the
purposes of the Plan (which Shares may be held by a Depositary on behalf of any such trustees or other person) or enter into any guarantee or indemnity for these purposes, to the extent permitted by section 153 of the Act or, as the context may
require, the Companies (Jersey) Law 1991. 

  

	11.4	 Any notice or other communication under or in connection with the Plan may be given by personal delivery, delivery by email or by sending the same by post, in
the case of a company to its registered office (or to such other address and person as may be specified by that company from time to time), and in the case of an individual to his last known address, or, where he is a director or employee of a Group
Member, either to his last known address or to the address of the place of business at which he performs the whole or substantially the whole of the duties of his office or employment. 

 

	11.5	 The Board may establish further plans based on the Plan but modified to take account of local tax, exchange control or securities laws in overseas
territories, provided that any Shares made available under such further plans are treated as counting against the limits expressed in Rules 4.1 to 4.6. 

 

	11.6	 The Plan and any Option shall be governed by and construed in accordance with the laws of England and Wales and the Company and the Participants (together
with any eligible persons who do not become Participants) shall submit to the exclusive jurisdiction of the Courts of England and Wales. 

  

	12	 WITHHOLDING 

  

	12.1	 The grant or exercise of any Option under the Plan is subject to the condition that the grant or an exercise of the Option shall not be valid unless the
Participant has, in addition to complying with the other requirements of the Plan, paid or procured the payment to the Group Member which is his employer, or otherwise provided for (in a manner satisfactory to that Group Member or, if appropriate,
the trustees of any employee benefit trust) an amount equal to the taxation for which any Group Member may be liable by reason of that grant or exercise. 

 

	12.2	 Without limitation to 12.1 above, the Company or any other Group Member which is a Participant’s employer or the trustees of any employee benefit trust
may withhold any amount and make such arrangements as it considers necessary which comply with applicable law to meet any liability to taxation in respect of the grant, exercise or cancellation of Options or other event relating to Options or in
respect of any benefit under the Plan. These arrangements may include the sale of any Shares on behalf of a Participant, which the Participant is deemed to have authorised, to produce a cash sum sufficient to meet the taxation liabilities referred
to in this Rule 12. 

  

	12.3	 The Company may in its sole discretion waive the requirements set out in this Rule 12 in respect of any part of the Participant’s employer’s
liability to taxation, including in particular, any employer’s liability to National Insurance Contributions. 

  
 11 

	12.4	 In this Rule, “taxation” means all forms of taxation or levy by any state or any political subdivision of a state and includes income tax, Pay as
You Earn, National Insurance or other social security contributions, whether being the primary liability of the employer or the employee, or any other person. 

  
 12 

 APPENDIX 1 
 This Appendix constitutes the HM Revenue & Customs approved part of the WPP 2008 Executive Stock Option Plan (the “Approved Part”). In the event of any conflict between the Plan and Appendix 1,
the latter shall prevail. The terms of the Approved Part are identical to those of the other part of the said Plan, to which this Approved Part is appended except as follows: 

 

	1	 In the definition of “Subsidiary” in Rule 1.1, add to the end words “and is under the control of the Company within the meaning of
Section 719 of the Income Tax (Earnings and Pensions) Act 2003”. 

  

	2	 In Rule 2.1, delete the words “an executive director or employee of a Constituent Company.” and substitute the words: 

“a full-time director or qualifying employee of a Constituent Company. For the purposes of this Rule 2.1: 

 

	 	(a)	 a person shall be treated as a full-time director of a Constituent Company if he is obliged to devote to the performance of the duties of his office or
employment with that and any other Constituent Company not less than 25 hours a week (excluding meal breaks); 

  

	 	(b)	 a qualifying employee, in relation to a Constituent Company, is an employee of the Constituent Company (other than one who is a director of a Constituent
Company).” 

  

	3	 In Rule 2.1, add the words “A person is not eligible to be granted an Option under the Plan at any time when he is not eligible to participate in the
Plan by virtue of paragraph 9 of Schedule 4 (material interest).” 

  

	4	 Only Share Options, and not ADR Options, shall be granted under the Approved Part and therefore no references to WPP ADRs or ADR Options shall apply in
respect of an Option granted under this Appendix 1. No Share Option may be granted under this Appendix 1 prior to the date of approval of the Approved Part by H M Revenue & Customs. 

 

	5	 In Rule 3.1, after the words “procure the grant” add the words “by deed, seal or for consideration” and after the word “Company”
in the definition of “Share”, add the words “which satisfy the requirements of paragraphs 16 – 20 of Schedule 4”. 

  

	6	 In Rule 3.2, after the first mention of the word “Board” add the words “the date on which the Approved Part is approved by HM
Revenue & Customs under Schedule 4”. 

  

	7	 In Rule 3.3(a), delete the words “or other reputable market source that is able to provide the relevant information at a more appropriate time, even
though that source may not be able to guarantee that the information provided will be identical to that subsequently published in that list”. 

  

	8	 In Rule 3.3(b), delete the words “reasonably determined by the Board” and substitute the words “agreed in advance for the purposes of the Plan
with Shares Valuation of HM Revenue & Customs, on the Grant Date (or such other day as may be agreed with HM Revenue & Customs)”. 

 

	9	 At the end of Rule 3.5 add the words “(provided that in the case of a cessation due to redundancy or retirement within six months of the Grant Date there
shall be no such discretion and the Option shall lapse immediately on such cessation)”, and add the words “acting fairly and reasonably” after the word “Board” where it appears in that Rule. 

  
 13 

	10	 Add the following as Rule 4.3A: 

 “No person shall be granted Options under the Approved Part which would, at the time they are granted cause the aggregate market value (determined as at the date of each relevant grant) of the Shares which he
may acquire in pursuance of Options granted to him under the Approved Part or under any other share option scheme, not being a savings related share option scheme, approved under Schedule 9 or any option scheme approved under Schedule 4 and
established by the Company or by any associated company of the Company (and not exercised) to exceed or further exceed £30,000 or such other limit as may be prescribed in paragraph 6 of Schedule 4”. 

 

	11	 In Rule 5.2, add the words “acting fairly and reasonably” after the word “Board” in the 3rd line. 

 

	11A	 In Rule 6.4(b), add the words “or on or after the Specified Age,” after the words “retires at all),”. 

 

	12	 In Rule 6(4)(c), after the words “the Board” (on both occasions where those words appear) add the words “(acting fairly and reasonably) and, at
the end of the Rule, add the words “provided that the discretions of the Board contained in this Rule 6.4(c) shall not apply in the case of a cessation by reason of redundancy (in which case the Option shall lapse immediately)”.

  

	13	 Add the following as Rule 6.7A: 

 “A Participant shall not be eligible to exercise an Option under the Plan at any time when he is not eligible to participate in the Plan by virtue of paragraph 9 of Schedule 4”. 

 

	14	 Delete Rule 6.8 (b) and insert the following as Rule 6.8A: 

“In a case where a Group Member is obliged to account for any tax (in any jurisdiction) for which the person in question is
liable by virtue of the exercise of the Option, the Board may require the Participant to make a payment to the Company of an amount equal to the reasonable estimate of the Company of that tax as a condition precedent to the exercise of the Option
provided that if that estimate proves to be in excess of the actual liability then the excess will be refunded to the Participant.” 
  

	15	 At the end of Rule 6.11, add the words “acting fairly and reasonably”. 

 

	16	 In Rule 7.1, insert the words “not exceeding four months” after the word “period” in the penultimate line. 

 

	17	 Add the following as Rules 7.6 and 7.7: 

  

	 	“7.6	 If any company (the “acquiring company”): 

  

	 	(a)	 obtains control of the Company as a result of making: 

  

	 	(i)	 a general offer to acquire the whole of the issued ordinary share capital of the Company which is made on a condition such that if it is met the person making
the offer will have control of the Company, or 

  

	 	(ii)	 a general offer to acquire all the Shares in the Company which are of the same class as the Shares which may be acquired by the exercise of Options granted
under the Plan, or 

  

	 	(b)	 obtains control of the Company in pursuance of a compromise or arrangement sanctioned by the court under Part 18A of the Companies (Jersey) Law 1991 (provided
that at the time of such event H M Revenue & Customs accepts such provisions as equivalent to Part 26 of the Companies Act 2006), or 

  
 14 

	 	(c)	 becomes bound or entitled to acquire Shares in the Company under Part 18 of the Companies (Jersey) Law 1991 (provided that at the time of such event H M
Revenue & Customs accepts such provisions as equivalent to section 979 of the Companies Act 2006); 

 any Participant may at any time within the appropriate period (which expression shall be construed in accordance with paragraph 26 of Schedule 4), by agreement with the acquiring company, release any Option granted
under the Plan which has not lapsed (the “old option”) in consideration of the grant to him of an option (the “new option”) which (for the purposes of that paragraph) is equivalent to the old option but relates to shares in a
different company (whether the acquiring company itself or some other company falling within paragraph 16(b) or (c) of Schedule 4). 
  

	 	7.7	 The new option shall not be regarded for the purposes of Rule 7.6 above as equivalent to the old option unless the conditions set out in paragraph 27 of
Schedule 4 are satisfied, but so that the provisions of the Plan shall for this purpose be construed as if: 

  

	 	(i)	 the new option were an option granted under the Plan at the same time as the old option; 

 

	 	(ii)	 except for the purposes of the definitions of “Group Member”, “Constituent Company” and “Subsidiary” in Rule 1.1 above and the
reference to “the Board” in Rule 6.7 above, the expression “the Company” were defined as “a company whose shares may be acquired by the exercise of options granted under the Plan”; 

 

	 	(iii)	 the relevant condition referred to in Rule 6.3 above had been satisfied; and 

 

	 	(iv)	 Rule 9.2 below were omitted.” 

  

	18	 At the start of Rule 8.1, add the words “Subject to Rule 8.2A below”. 

 

	19	 In Rule 8.1, delete the words “increase or.” 

  

	20	 In Rules 8.2(a) and (c), insert the words “(but not the class)” after the word “description”. 

 

	21	 Add the following as Rule 8.2A: 

 “At a time when the Plan is approved by HM Revenue & Customs under Schedule 4, no adjustment under Rule 8.2 above shall be made without the prior approval of HM Revenue & Customs.”

  

	22	 In Rule 9.1 delete the words “Rule 9.2” and substitute the words “Rules 9.2, 9.2A and 9.2B”. 

 

	23	 At the end of Rule 9.1, add the words “(having regard to the fact that, if an alteration or addition which does not solely relate to a special term is
made at a time when the Plan is approved by HM Revenue & Customs under Schedule 4, the alteration or addition to any Key Feature will not thereafter have effect unless and until HM Revenue & Customs have approved the alteration or
addition)”. 

  

	24	 Add the following as Rule 9.2A and 9.2B: 

  

	 	“9.2A	 No alteration or addition to the disadvantage of any Participant, other than to a special term, shall be made under Rule 9.1 above unless:

  

	 	(d)	 the Board shall have invited every relevant Participant to give an indication as to whether or not he approves the alteration or addition, and

  
 15 

	 	(e)	 the alteration or addition is approved by a majority of those Participants who have given such an indication. 

 

	 	9.2B	 No alteration or addition which solely relates to a special term subject to which an Option has been granted shall be made under Rule 9.1 above unless:

  

	 	(a)	 there shall have occurred an event which shall have caused the Board reasonably to consider that the special term would not, without the alteration or
addition, achieve its original purpose; and 

  

	 	(b)	 the Board shall act fairly and reasonably in making the alteration or addition which must be no more difficult to satisfy than the original.”

  

	25	 At the end of Rule 9.3, add the words “and if the Plan is then approved by HM Revenue & Customs under Schedule 4, to HM Revenue &
Customs.” 

  

	26	 Add as Rule 9.4: 

 “Any reference in this Rule to a special term is a reference to a term specified by the Board as mentioned in Rule 3.1 above or a term of the Schedule hereto”. 

 

	27	 Delete Rule 10 in its
entirety.15 

 

	28	 Delete Rule 1216 and substitute the following Rule 12: 

  

	 	“12.	 Withholding 

  

	 	12.1	 The exercise of any Option under the Plan is subject to the condition that the exercise of the Option shall not be valid unless the Participant has, in
addition to complying with the other requirements of the Plan, paid or procured the payment to the Group Member which is his employer, or otherwise provided for (in a manner satisfactory to that Group Member or, if appropriate, the trustees of any
employee benefit trust) an amount equal to the taxation for which any Group Member may be liable by reason of that exercise. 

  

	 	12.2	 Without limitation to 12.1 above, the Company or any other Group Member which is a Participant’s employer or the trustees of any employee benefit trust
may withhold any amount and make such arrangements as it considers necessary which comply with applicable law to meet any liability to taxation in respect of the exercise of Options under the Plan. These arrangements may include the sale of any
Shares on behalf of a Participant, which the Participant is deemed to have authorised, to produce a cash sum sufficient to meet the taxation liabilities referred to in this Rule 12. 

 

	 	12.3	 The Company may, acting fairly and reasonably, waive the requirements set out in this Rule 12 in respect of any part of the Participant’s employer’s
liability to taxation, including in particular, any employer’s liability to National Insurance Contributions. 

  

	 	12.4	 In this Rule, “taxation” means taxation by any state or any political subdivision of a state and includes income tax, Pay as You Earn and primary
National Insurance and their equivalents in jurisdictions outside of the United Kingdom.” 

  

	15 	 Inserted by Resolution of the Compensation Committee dated 11 May 2010 and approved by HM Revenue & Customs on 22 March 2011.

	16 	 Numbering amended by Resolution of the Compensation Committee dated 11 May 2010 and approved by HM Revenue & Customs on 22 March 2011.

  
 16 

	29	 Add the following after Rule 5.3: 

  

	 	“5.4	 The Board may make such fair and reasonable adjustments to the terms of the relevant condition as in its opinion it considers appropriate to take account of
any Issue or Reorganisation. 

  
  

	 	5.5	 If any accounting standard used in the relevant condition is modified, replaced or substituted or if the composition of any market index used in the relevant
condition changes and/or is replaced by another similar index, the Board may make such adjustments to the terms of the relevant condition as it in its opinion considers to be fair and reasonable. 

 

	 	5.6	 Any adjustments made to the relevant condition pursuant to Rules 5.4 and 5.5 shall be in accordance with and subject to Rule 9 of the Scheme and any adjusted
relevant condition will in the reasonable opinion of the Board be materially no more difficult and no less difficult to satisfy than the relevant condition to which the exercise of the Option was originally subject.”

  
 17 

 APPENDIX 2 
 Special Rules Applicable to Grants of Incentive Stock Options 
  

	1	 Options granted in accordance with the Plan (either including or excluding Appendix 1 thereto) may be designated as “Incentive Stock Options”
(“ISOs”) within the meaning of section 422 of the United States Internal Revenue Code of 1986, as amended (the “U.S. Tax Code”). 

  

	2	 The aggregate number of Shares (including Shares comprised in any WPP ADR) for which ISOs may be granted under Appendix 2 shall not exceed 125,665,004.

  

	3	 The class of persons who may receive ISOs shall, in addition to the limitations imposed by Rule 2 of the Plan, be limited to those persons who are
employees of the Company or its “parent” or “subsidiary” corporations within the meaning of sections 424(f) and (g), respectively, of the U.S. Tax Code. 

 

	4	 In addition to any other restrictions contained in the Plan, ISOs shall not be transferable otherwise than by will or the laws of descent and distribution.
During the lifetime of the person to whom an ISO is granted, the ISO shall be exercisable only by such person. 

  

	5	 To the extent that the aggregate market value of Shares (including Shares comprised in any WPP ADR) with respect to which ISOs are exercisable (determined
without regard to this sentence) for the first time by a Participant during any calendar year (under all plans or schemes of the Company or its “parent” and “subsidiary” corporations within the meaning of sections 424(f) and (g),
respectively, of the U.S. Tax Code) exceeds US $100,000, such Options shall to the extent of such excess be treated as Options which are not ISOs. For the purposes of the preceding sentence, the market value of any Shares (including Shares comprised
in any WPP ADR) subject to an ISO shall be determined at the time such ISO is granted. 

  

	6	 This schedule shall be deemed to be included within the Plan as adopted by shareholders for the purpose of any ISO grants. 

  
 18 

 APPENDIX 3 
 India 
 The plan will apply to Options granted to residents in India17 with the following modifications:18 
  

	1	 Notwithstanding any other provision of the Plan, a person is eligible to be granted an option under this Appendix if (and only if) he is a full-time director
or qualifying employee (as defined in Paragraph 2 of Appendix 1) of a Constituent Company (whether or not the Company itself) resident in India. 

  

	2	 All or any of the terms of the Option may be altered to comply with requirements imposed under applicable exchange control regulations and other laws of India
in relation to that Option and an Option may only be exercised if and to the extent permitted by those regulations. 

  

	3	 Applicable regulations of the Reserve Bank of India (“RBI”) do not currently limit the amount of funds that may be transferred for the purchase of
stock pursuant to the exercise of a stock option under the Plan, but such regulations are subject to change. Any cash balances received in respect of, (i) dividends must be repatriated to India within seven days of receipt, and
(ii) proceeds from sale of shares acquired pursuant to the Plan must be repatriated to India within ninety days of receipt. 

  

	 19 	 

  

	17 	 Amended by Resolution of the Compensation Committee dated 16 March 2010. 

	18 	 Amended by Resolution of the Compensation Committee dated 3 March 2009. 

	19 	 Paragraph 4 of Appendix 3 (India) deleted by Resolution of the Compensation Committee dated 16 March 2010. 

  
 19 

 APPENDIX 4 
 Belgium 
 The Plan will apply to Options granted to residents of Belgium with the following
modifications. 
  

	1	 In Rule 3(4), a further Rule (c) shall be added as follows: 

 

	 	“(c)	 shall be cancelled if he notifies the Company that he refuses to accept the Option or if he fails to accept the Option within 60 days of the date of the
Company’s communication to him in respect of the Option.” 

  

	2	 In Rule 6(2), delete the words: 

 “the third anniversary of the Grant Date” 
 and substitute the words

 “the 1 January following the third anniversary of the Grant Date.” 

 

	3	 In Rule 6(3), delete the words: 

 “within 12 months after the date of his death.” 
 and substitute the words

 “in the later of the period of 12 months commencing with the date of his death or the period of 6 months
commencing on 1 January following the third anniversary of the Grant Date.” 
  

	4	 In Rule 6(4), delete the words: 

 “and in this Rule the exercise period is the period which shall expire 6 months after his so ceasing” 
 and substitute the words: 
 “and in this Rule the exercise period is the period
which shall commence on the 1 January following the third anniversary of the Grant Date (the “Third Anniversary”) and expire 12 months after his so ceasing or 6 months after the Third Anniversary, whichever shall be the latest.”

  
  20 
21 

 

	20 	 The Appendices which previously followed Appendix 4 (Switzerland and the Netherlands) have been deleted, which amendment was made by Resolution of the
Compensation Committee dated 3 March 2009. 

	21 	 The original Appendix 5 (Italy) was deleted by Resolution of the Compensation Committee dated 16 March 2010 

  
 20 

 APPENDIX 5 
 Executive directors 
  

	1	 Pursuant and subject to Rule 5, any Option granted to a director of the Company will be subject to the relevant condition given in this Appendix 5.22 

 

	2	 The relevant condition shall be: 

  

	2.1	 the performance period shall be the period of three calendar years commencing with the start of the accounting period including the Grant Date (or with such
later period as may be specified by the Board at the time of the grant of the Option) (the “Performance Period”). 

  

	2.2	 that the percentage increase in earnings per share of the Company over the Performance Period shall have exceeded the growth in the RPI by 5% per annum
(compounded annually); and 

  

	2.3	 in the event that, at the end of the Performance Period, it is determined that the percentage increase in earnings per share of the Company over the
Performance Period has not exceeded the growth in the RPI by 5% per annum (compounded annually), the Option shall immediately lapse; and 

  

	2.4	 For the purposes of the relevant condition: 

  

	 	(a)	 Growth in Earnings Per Share shall be calculated by dividing the Earnings Per Share in respect of the third of the three consecutive financial years by the
Earnings Per Share achieved in the financial year ending immediately prior to the first day of the first of those three consecutive financial years (commencing no earlier than the financial year in which the Grant Date occurs).

  

	 	(b)	 Growth in the Retail Prices Index shall be calculated by dividing such Retail Prices Index as is published in respect of the month containing the last day of
the third of the three consecutive financial years referred to in 2.4(a) above by such Retail Prices Index as was published in respect of the month containing the last day of the financial year of the Company ending immediately prior to the first
day of the first of those three consecutive financial years. 

  

	2.5	 The Board may make such fair and reasonable adjustments to the terms of the relevant condition as in its opinion it considers appropriate to take account of
any Issue or Reorganisation. 

  

	2.6	 If SSAP 3 and/or FRS 3 are modified, replaced or substituted or if the composition of the Retail Prices Index changes and/or the Retail Prices Index is
replaced by another similar index, the Board may make such adjustments to the terms of the relevant condition as it in its opinion considers to be fair and reasonable. 

 

	2.7	 Any adjustments made to the Performance Target pursuant to paragraphs 2.5 and 2.6 above shall be in accordance with and subject to Rule 9 of the Scheme and
that any adjusted Performance Target will in the reasonable opinion of the Board be materially no more difficult and no less difficult to satisfy than the Performance Target to which the exercise of the Option was originally subject.

  

	22 	 Amended by Resolution of the Compensation Committee dated 3 March 2009. 

  
 21 

	2.8	 As soon as is reasonably practical following the end of any relevant financial year of the Company the Board shall determine whether the Performance Target
has been satisfied and shall notify the Participant in writing if it has been satisfied and once satisfied the Option may, subject as otherwise provided in the Rules, be exercised at any time during the Option Period notwithstanding that for
subsequent financial years the Growth in Earnings Per Share may not exceed the Growth in the Retail Prices Index. 

  

	2.9	 Any calculations or determinations by the Board in accordance with the Performance Target shall not be open to question and shall be final and binding on all
persons concerned. The Board may request the Auditors to carry out any or all of the calculations and determinations of it in connection with the Performance Target. If so, the Auditors shall act as experts and not as arbitrators and their
calculations and determinations shall not be open to question and shall be final and binding on all persons concerned. 

  

	3	 For the purposes of the relevant condition the following terms shall have the following meanings: 

“Earnings Per Share” means the earnings per share (as defined in SSAP 3 paragraph 10 as amended by FRS 3) of the
Company determined in accordance with such standards and as shown in the audited financial statements of the Company after making such adjustments to the earnings per share as the Board in its opinion considers appropriate in order to ensure that
the measure of earnings per share for the relevant financial years is on a fair and consistent basis including, without limitation, the following adjustments to earnings per share for the relevant financial years: 

 

	 	(a)	 a proportionate upwards or downwards amendment in a case where the relevant financial year is more than or less than a calendar year; and/or

  

	 	(b)	 ignoring all exceptional and extraordinary items as defined in paragraphs 5 and 6 of FRS 3; and/or 

 

	 	(c)	 ignoring the results of discontinued operations as defined in paragraph 4 of FRS 3. 

“FRS” means Financial Reporting Standard of the Accounting Standards Board Limited. 

“Issue or Reorganisation” means any capitalisation issue (other than the issue of shares pursuant to the exercise
of an option given to the shareholders of the Company to receive shares in lieu of dividend) or rights offer or any other variation in the share capital of the Company including (without limitation) any consolidation, sub-division or reduction of
capital of the Company. 
 “Retail Prices Index” means the Retail Prices All Items Index Table: Indices
back to 1947 (Table RP02) as published by the Office for National Statistics or any table which replaces it. 

“SSAP” means Statement of Standard Accounting Practice of the Accounting Standards Board Limited. 

  
 22 

 APPENDIX 6 
 Taxpayers Subject to Section 409A of the United States Internal Revenue Code 
 The plan
will apply to participants who are taxpayers subject to Section 409A of the United States Internal Revenue Code (“Section 409A”), with the following modifications: 

 

	1	 The options granted under the plan are intended to be exempt from the requirements of Section 409A by satisfying the requirements of the exemption set
forth under Section 1.409A- 1(b)(5)(i)(A) of the United States Treasury Regulations or other applicable guidance (the “Exemption”). The plan shall be construed and interpreted in accordance with such intent. Any discretion afforded to
any person or entity under the plan the existence of which itself would cause an option to fail to satisfy the requirements of the Exemption is hereby removed from the plan. 

 

	2	 At the end of Rule 3.3(c) after the words “Grant Date”, add the words “provided that the price shall in no case be less than fair market value
determined in accordance with Section 409A.” 

  

	3	 Add the following as Rule 8.5: 

 “Notwithstanding the foregoing, only adjustments permitted by Section 409A shall be permitted to be made under Rule 8, including pro rata adjustments necessary to reflect a stock split, reverse stock
split, and stock dividend.” 
 23
24 
 APPENDIX 7 
 Canada 
 The Plan will apply to Options granted to residents of Canada with the following modification: 
 Any
Shares acquired by a Participant pursuant to this Plan may not be traded within Canada at any time and, by receiving such Shares, each Participant shall be taken to have agreed to observe this restriction. 

APPENDIX 8 
 Denmark

 The Plan will apply to options granted to residents of Denmark with the following modification: 

Where the provisions of Rule 6.3 to 6.6 conflict with Danish law, Danish law will prevail and the terms of these Rules will be taken to be amended
accordingly but only in respect of Options granted to employees in Denmark. 
  

 

	23	 Appendices 8 to 18 inclusive were inserted by Resolution of the Compensation Committee dated 3 March 2009. 

	24	 The previous Appendix 8 (Austria) was deleted by Resolution of the Compensation Committee dated 16 March 2010. 

  
 23 

 APPENDIX 9 
 Hong Kong 
 The Plan will apply to Options granted to residents of Hong Kong with the addition
of the following rules. 
  

	1	 Notwithstanding any other provision of the Plan the grant of Options under and the operation of the Plan does not constitute an offer or invitation to the
public within the meaning of the Companies Ordinance or the Securities and Futures Ordinance. 

  

	2	 Any Shares acquired by a Participant pursuant to this Plan cannot be traded within Hong Kong within 6 months of the date of exercise of the Option(s) pursuant
to which such Shares are acquired and, by receiving such Shares, each Participant shall be taken to have agreed to observe this restriction. 

 APPENDIX 10 
 Ireland 

The Plan will apply to Options granted to residents of the Republic of Ireland with the following modifications: 

 

	1	 In Rule 6.7, delete “10” and substitute “7” and delete “(or such shorter period as the Board may have determined before the grant
thereof)”. 

  

	2	 Any Option that is held by a person who is a director of a company resident or incorporated in the Republic of Ireland shall be satisfied by the issue of new
Shares and not the transfer of Shares. 

 APPENDIX 11 

Japan 
 The Plan will apply
to Options granted to residents of Japan with the addition of the following Rules: 
  

	1	 In a case where Japanese laws and regulations would inhibit the exercise of an Option or the delivery of Shares or WPP ADRs (or the issue of a WPP receipt)
following exercise of the Option, the Board may make such regulations as it thinks fit for dealing with this (whether or not consistent with the rules of the Plan), which for the avoidance of doubt may include: 

 

	 	(a)	 declining to deliver Shares or WPP ADRs (or the issue of a WPP receipt) within 30 days after an Option under the Plan has been exercised, or at all, and

  

	 	(b)	 requiring Participants to give advance notice, of whatever length, of their intention to exercise an Option. 

 

	2	 For the purposes of ensuring that a securities notice may be filed before the actual Grant Date, the Board may specify a date (“the Notional Grant
Date”) prior to the Grant Date by reference to which the price at which WPP ADRs may be acquired on exercise of an ADR Option shall be calculated (as if that date was the Grant Date) and the Notional Grant Date shall, for all purposes of these
Rules, be taken as being the Grant Date except that the Participants shall not acquire their Options until they are actually granted on the actual Grant Date. 

  
 24 

 APPENDIX 12 
 Korea 
 The Plan will apply to Options granted to residents of Korea with the addition of the following rule:

 Notwithstanding any other provision of the Plan unless the Company determines otherwise, no person will acquire any rights under an
Option unless and until the relevant report has been filed with and, if necessary approved by, an authorised foreign exchange bank. 

APPENDIX 13 
 Malaysia

 The Plan will apply to Options granted to residents of Malaysia with the addition of the following rule: 

Notwithstanding any other provision of the Plan, no person will acquire any rights under an Option unless and until the relevant registration has
been filed with, or approval has been obtained from (in each case if required) the Controller of Foreign Exchange. 
 APPENDIX 14

 Mexico 
 The
Plan will apply to Options granted to residents in Mexico with the addition of the following rules: 
  

	1	 Interests under the Plan have not and will not be registered with the National Registry of Securities maintained by the National Banking and Securities
Commission of Mexico and therefore may not be publicly offered in Mexico. 

  

	2	 Any grant of Options is a private offering under Article 8 paragraph III of the Securities Law of Mexico. Any such offering is limited to employees or groups
of employees of companies which issue interests under any employee stock option plan or program, or the companies which are controlled by said company, as defined under the Securities Law and applicable regulations of Mexico in effect.

 APPENDIX 15 
 Russia 
 The Plan will apply to Options granted to residents in Russia with the addition of the
following rule: 
 For the purposes of the securities laws of Russia, all transactions carried out and contracts entered into in
connection with the Plan and any Shares acquired by Participants will be carried out or entered into outside Russia. 

  
 25 

 APPENDIX 16 
 Slovak Republic 
 The Plan will apply to Options granted to residents of the Slovak Republic
with the following alteration: 
 If a Participant gives notice to a Group Member that he intends to leave employment at any time within
the two month period following the giving of the notice, for any of the reasons set out in Rule 6.4(a), 6.4(b) and 6.4(c) and in respect of any reason set out in Rule 6.4(c) only if the Board shall so permit, then the Option may be exercised before
he leaves employment. 
 APPENDIX 1725 

France 
 The Plan will apply
to Options granted to Participants who are or may become subject to French taxation (i.e. income tax and/or social security contributions) as a result of a Grant of Options made under this Plan. Grants of Options to such Participants will be subject
to the modifications set out in this Appendix and in the event of any difference or conflict between the terms of this Appendix and the Rules, the terms of this Appendix will prevail. 

 

	1	 Options may only be granted to Eligible Persons who can be either the salaried employees, within the meaning of French labour law or directors
(“mandataires sociaux”) as defined in Section L 225-185 of the French Commercial Code, of a French company satisfying the conditions mentioned in Section L 225-180 of the same Code. 

 

	2	 Notwithstanding any other provision of the Plan, no Option may be granted to any Eligible Person who owns more than 10% of the ordinary share capital of the
Company then in issue. 

  

	3	 Options may not be granted (i) during the 10 business days preceding and following the date at which the consolidated accounts and the annual accounts of
the Company have been disclosed to the public and (ii) between (x) the day on which the management bodies of the Company have received an information which, if it were disclosed to the public, could affect significantly the market
quotation of the Company and (y) the day after the 10 business days following the date at which such information has been disclosed to the public. 

 

	4	 In the case of a Share Option the price at which Shares may be acquired by the exercise of an Option shall be at least equal to 80% of the arithmetical
average of the middle market quotations of a Share (as derived from the London Stock Exchange Daily Official List) on the 20 business days last preceding the date on which the Option is granted. 

 

	5	 In the case of an ADR Option, the price at which Shares may be acquired by the exercise of an Option shall be at least equal to 80% of the fair market value
of a WPP ADR as quoted on NASDAQ on the 20 business days last preceding the date on which the Option is granted. 

  

	6	 Notwithstanding Rule 8 of the Plan, the price at which Shares may be acquired by the exercise of the Option shall be adjusted only upon the occurrence of the
events specified under Section L 225-181 of the French Commercial Code. 

  

	7	 Options may not be sold or transferred. 

 

	25 	 Inserted by Written Resolution of Mark Linaugh on 22 November 2011 pursuant to the authority delegated to him by the Compensation Committee on
11 April 2011. 

  
 26 

	8	 Notwithstanding Rule 6.3 of the Plan, on the death of a Participant at a time when the Option in question has not lapsed, the Option may not be exercised
later than six months after the date of his death. 

  

	9	 Notwithstanding Rule 6.2 of the Plan (but subject to Rules 6.3. 6.4, 7.1 and 7.3), an Option granted under the Plan may not be exercised before the day after
the fourth anniversary of the Grant Date. 

  

	10	 A Director within the meaning of Section L 225-185 §4 of the French Commercial Code shall be required to retain (either registered in his own name or
deposited with a nominee on his behalf) a proportion of the Shares received as a result of exercising an Option as determined by the Compensation Committee, until he ceases his role as a Director. If no other proportion is determined when the
relevant option is granted, the proportion required to be retained will be 10%. 

  

	11	 Notwithstanding any other provision of the Plan, no option granted more than 76 months after the Plan was last approved by shareholders as required by Rule
9.4.1 of the Listing Rules of the UK Listing Authority may be satisfied by any means involving the issue of new Shares or the transfer of Treasury Shares. 

  
 27EX-4.29

 Exhibit 4.29 
  

WPP GROUP PLC 
  

 
  

2004 LEADERSHIP EQUITY PLAN 
  

 
 Approved
by the Company in General Meeting on 16 April 2004 and amended by the Compensation Committee of the board of directors of the Company on 21 May 2004, 27 October 2005, 15 December 2005, 26 October 2006, 14 December 2006,

 20 February 2007, 24 October 2007, 21 October 2008 and 12 November 2012 

As approved by shareholders of WPP plc on 30 September 2008 and adopted by the Board of 

Directors of WPP plc on 30 September 2008 

As approved by shareholders of WPP Group plc on 30 October 2008 prior to the introduction 

of a new holding company by a scheme of arrangement under Part 26 of the Companies Act 2006 

 
 Squire Sanders (UK) LLP 

7 Devonshire Square 
 London

 EC2M 4YH 
 United Kingdom

 DX 136546 Bishopsgate 2 

Office: +44 (0)20 7655 1000 
 Fax: +44
(0)20 7655 1001 
 Reference WPP.002-1470 

 CONTENTS 
  

					
	 1        PURPOSE
	  	 	1	  
		
	 2        INTERPRETATION
	  	 	1	  
		
	 3        ELIGIBILITY
	  	 	6	  
		
	 4       ACQUISITION OF INVESTMENT SHARES
	  	 	7	  
		
	 5       PLAN LIMITS
	  	 	8	  
		
	 6       AWARDS
	  	 	9	  
		
	 7       COMMITMENT OF INVESTMENT SHARES
	  	 	11	  
		
	 8       PERFORMANCE CONDITIONS
	  	 	11	  
		
	 9       CESSATION OF EMPLOYMENT
	  	 	12	  
		
	 10     VARIATION OF CAPITAL
	  	 	13	  
		
	 11     CHANGE OF CONTROL
	  	 	13	  
		
	 12     DISCHARGE OF AWARDS
	  	 	15	  
		
	 13     MISCELLANEOUS
	  	 	16	  
		
	 14     AMENDMENT
	  	 	18	  
		
	 15     DURATION
	  	 	18	  
		
	 SCHEDULE 1 
	  	 	19	  
		
	 SCHEDULE 2 
	  	 	23	  
		
	 SCHEDULE 3 
	  	 	27	  
		
	 SCHEDULE 4 
	  	 	31	  

  
 i 

	1	     PURPOSE 

  

	1.1	 The purpose of the Plan is to incentivise those executive directors of the Company and operating company executives whose contributions transcend their day to
day role. 

  

	2	     INTERPRETATION 

  

	2.1	 The following words and expressions have the following meanings in the Rules of the Plan and in the Schedule: 

“Act” means the Companies Act 1985 as amended. 

“ADR” means an American Depository Receipt representing, for the time being, 5 ordinary shares in the capital of
the Company deposited with Citibank NA as depository under the Deposit Agreement between the Company and Citibank NA dated as of 2 January 20131 as amended from time to time or any other American depository receipt arrangement sponsored by the Company.2 
 “Annual Earnings” means an Eligible Person’s annual earnings at any time comprising his basic salary and Target Bonus for a particular year. In the event of any dispute, such annual earnings
will be as determined by the Compensation Committee. 
 “Award” means an award or grant made to an
Eligible Person subject to and on the terms of the Plan. 
 “Award Period” means the period of 42 days
commencing on: 
  

	 	(a)	 the date of adoption of the Plan by the shareholders of Original3 WPP; 

  

	 	(b)	 any day on which the Company releases its results for any financial period; or 

 

	 	(c)	 the date of commencement of Employment of an Eligible Person (but only in respect of that Eligible Person). 

“Bad Leaver” means a Participant whose Employment terminates as a result of: 

 

	 	(a)	 the proper termination by a Group Company of his Employment (which shall include a termination which is not a proper termination by virtue of a procedural
error in the termination) where that Participant: 

  

	 	(i)	 shall have committed any act or omission which entitles a Group Company to terminate his contract of employment without notice; or

  

	 	(ii)	 shall have committed any serious breach or repeated or continued breach (after warning in writing) of his obligations under his contract of employment
including, without limitation, ceasing to work full time for the Group without the prior consent of the relevant Group Company except in circumstances where the Participant retires4 with the prior consent of the Company; or 

 

	1 	 Amended by Resolution of the Compensation Committee dated 12 November 2012 

	2 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	3 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	4 	 Amended by resolution of the Compensation Committee dated 14 December 2006 

  
 1 

	 	(iii)	 shall have become prohibited by law from being a director or employee of a Group Company as a result of his own act, omission or misfeasance; or

  

	 	(iv)	 shall have been convicted of any criminal offence which is punishable by a custodial sentence or involves dishonesty or violence; or

  

	 	(v)	 shall have, otherwise than at the request of the relevant Group Company, resigned as a director or employee of the Group; or 

 

	 	(b)	 the voluntary leaving or giving notice voluntarily to leave Employment with the Group or voluntarily resigning as a director of any Group Company including,
for the avoidance of doubt, taking5 retirement without the prior consent of
the relevant Group Company; 

  

	 	(c)	 the wrongful termination by that Participant of his contract of employment with any Group Company unless the Company has agreed in writing that such
termination shall not constitute the Participant as being a Bad Leaver, 

 provided that a Participant
shall not be a Bad Leaver if he shall have been found to have been constructively dismissed by the Group.6 
 “Bonus Deferral Program” means the WPP Group plc Annual Bonus
Deferral Programme adopted by the Compensation Committee on 29 November 2000. 
 “Change of Control
Date” means the date on which a person or persons obtains Control of the Company as described in Rule 11.1(a) or 11.1(b). 
 “Close Family” means, in relation to a person, that person’s spouse, children and siblings and such other persons as may be agreed to be Close Family from time to time by the Compensation
Committee. 
 “Commitment Date” means the date by which Investment Shares must be committed to the Plan
to be eligible for an Award which shall be such date in the year in which an Award is made as is determined by the Compensation Committee but being a date which is not normally later than 30 June in that year, provided that the Compensation
Committee may, in its discretion, decide to extend the date by which the Investment Shares must be committed to the Plan to such later date as they may determine. 

“Company” means: 
  

	 	(a)	 for the period before 25 October 2005 the reference shall be to WPP 2005 Limited a private limited company incorporated in England and Wales with
registered number 1003653; 

  

	 	(b)	 for the period between 25 October 2005 and 18 November 2008 the reference shall be to WPP 2008 Limited, a private limited company incorporated in
England and Wales with registered number 5537577; 

  

	 	(c)	 for the period between 19 November 2008 and the Effective Date, the reference shall be to WPP plc, a public limited company incorporated in Jersey with
registered number 101749, to be re-named WPP 2012 plc; and 

  

 

	5 	 Amended by resolution of the Compensation Committee dated 14 December 2006 

	6 	 Amended by resolution of the Compensation Committee dated 14 December 2006 

  
 2 

	 	(d)	 for the period from and including the Effective Date the reference shall be to WPP plc, a public limited company incorporated in Jersey with registered number
111714.7 8
9 

“Company Secretary” means the company secretary of the Company from time to time. 

“Compensation Committee” means the compensation committee for the time being of the board of directors of the
Company. 
 “Control” has the same meaning as in section 840 of the Income and Corporation Taxes Act
1988. 
 “Effective Date” means the date on which the Scheme becomes effective, expected to be
2 January 2013.10 11
12 

“Eligible Person” means any employee (including an executive director) of a Group Company. 

“Employment” means employment as a director or employee of any Group Company. 

“Encumbrance” means any mortgage, charge, assignment or assignation by way of security, guarantee, debenture,
hypothecation, pledge, declaration of trust, lien, right of set-off or any other encumbrance (including any conditionality or forfeiture right) or security interest whatsoever, howsoever created or arising provided that the Compensation Committee
may determine that any particular encumbrance or security interest shall not be an Encumbrance for the purposes of this definition and, for the avoidance of doubt any Shares which are committed as Investment Shares to an existing Award under the
Plan will be treated as being subject to an Encumbrance for the purposes of this definition except in relation to the Award in respect of which they are committed. 

“ESOP” means any of the WPP Group plc Grantor Trust, the WPP Group plc ROW ESOP, the WPP Group plc UK ESOP and any
other employee benefit trust in existence at the date of adoption of the Plan or as may otherwise be nominated from time to time by the Compensation Committee to operate in conjunction with the Plan. 

 
 “Good Leaver” means a Participant whose
termination of Employment does not constitute him as a Bad Leaver, including by reason of his ceasing to be in Employment as a result of: 
  

	 	(a)	 death; 

  

	 	(b)	 wrongful or constructive dismissal; 

  

	 	(c)	 permanent disability; 

  

	 	(d)	 serious long-term illness preventing the Participant from carrying out his duties of employment; 

 

	 	(e)	 retirement on a basis agreed with the Company;13 

 provided that a Participant will cease to be treated as a Good Leaver if within six months of the date of cessation of employment he takes up an employment or engagement with another company, business or
organisation which the Compensation Committee considers to be a competitor of any part of the Group. 
  

	7 	 Amended by resolution of the Compensation Committee dated 18 August 2005 

	8 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	9 	 Amended by resolution of the Compensation Committee dated 12 November 2012 

	10 	 Amended by resolution of the Compensation Committee dated 18 August 2005 

	11 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	12 	 Amended by resolution of the Compensation Committee dated 12 November 2012 

	13 	 Amended by resolution of the Compensation Committee dated 14 December 2006 

  
 3 

 “Group” means the Company and all of its subsidiaries (as defined in
section 736 of the Act). 
 “Group Company” means any member of the Group. 

“I&P Period” means the investment and performance period which, in relation to: 

 

	 	(a)	 an Award in respect of which the I&P Period commences in 2004, is the period ending on 31 December 2007; and 

 

	 	(b)	 any other Award, is the period ending on 31 December in the 5th year from the commencement of the I&P Period14. 

in either case commencing on a date specified by the Compensation Committee. 

“Investment Shares” means the Shares committed to the Plan by an Eligible Person to qualify for an Award in
accordance with Rule 7. 
 “IRC” means the United States’ Internal Revenue Code of 1986, as amended.

 “ITEPA” means the Income Tax (Earnings and Pensions) Act 2003. 

“Matching Shares” means Shares which are comprised in an Award. 

“MSS” means Sir Martin Sorrell.15
16 17
18 19
20 

“Official List” means the Daily Official List of the UK Listing Authority. 

“Original LEAP” means the Leadership Equity Acquisition Plan adopted by the Company in General Meeting on
2 September 1999 as amended from time to time and including the sub-plans set out in the appendices to that plan. 

“Participant” means a person who holds an Award including, if relevant, his legal personal representatives.

 “Performance Conditions” means the conditions set out in the Schedule or such other conditions as may
be determined from time to time by the Compensation Committee pursuant to Rule 8. 
 “Plan” means the WPP
Group plc 2004 Leadership Equity Acquisition Plan as from time to time amended in accordance with the provisions of the Rules. 
 “Relevant Event” means the date on which an Employment terminates in circumstances where the Participant is a Good Leaver. 

“Relevant Proportion” means the proportion that the length of the period from the start of an I&P Period to
the occurrence of the Relevant Event bears to the length of that I&P Period (calculated in days). 
  

	14 	 Amended by resolution of the Compensation Committee dated 21 May 2004 

	15 	 Amended by resolution of the Compensation Committee dated 18 August 2005 

	16 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	17 	 Definition of “New WPP” removed by resolution of the Compensation Committee dated 12 November 2012 

	18 	 Amended by resolution of the Compensation Committee dated 18 August 2005 

	19 	 Definition of “Old WPP” removed by resolution of the Compensation Committee dated 12 November 2012 

	20 	 Definition of “Original WPP” removed by resolution of the Compensation Committee dated 12 November 2012 

  
 4 

 “Schedule” means the Schedule to the Rules. 

“Scheme” means the scheme of arrangement set out in part 3 of the circular to share owners of WPP plc, a company
registered in Jersey with company number 101749, relating to the recommended proposals for the introduction of a new parent company by means of a scheme of arrangement under Article 125 of the Companies (Jersey) Law 1991 or with or subject to any
modification, addition or condition approved or imposed by the Royal Court of Jersey.21 22 

“Share” means an ordinary share in the capital of the Company and includes ADRs. 

“Target Bonus” means, in relation to any particular year, the target bonus which may be payable to an Eligible
Person in that particular year and which has previously been notified to them in relation to that year. 

“Trading Day” means a day (excluding Saturdays, Sundays and Bank Holidays) on which clearing banks are generally
open for business in the City of London and in New York. 
  
 “Treasury Shares” means any Shares which are purchased by the Company in accordance with Article 57 of the Companies (Jersey) Law 1991 and held by the Company as treasury shares pursuant to Article
58A of the Companies (Jersey) Law 1991.23 

“UK Listing Authority” means the United Kingdom Listing Authority, a division of the Financial Services Authority.

 “Value” means the average of: 

 

	 	(a)	 in the case of an ordinary share in the capital of the Company, the middle-market quotation of a Share on the Daily Official List; and

  

	 	(b)	 in the case of ADRs, the average of the highest and lowest price of an ADR on a Trading Day on the Nasdaq National Market System or on such other trading
market as is for the time being the principal trading market for the ADR, 

 in either case taken over
the five Trading Days before the date on which such value is to be determined. 
 “Vested Matching
Shares” means the number of Matching Shares comprised in an Award which is determined as at the end of the I&P Period as being the number of Matching Shares which vest in accordance with paragraph 5 of the Schedule. 

“Vesting Date” means the date determined by the Compensation Committee to be the date on which restrictions
attaching to Vested Matching Shares are to be released or Vested Matching Shares are to be transferred or issued to a Participant, or as he may direct, or to a depository in the case of ADRs, to discharge an Award which shall, in any event, be no
later than 15th March in the year following the end of the I&P Period unless the Company is prohibited from discharging the Award on that date in which case the Vesting Date will be the first available Trading Day when the Company is no
longer prohibited from discharging that Award.24 

 
  

	21 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	22 	 Amended by resolution of the Compensation Committee dated 12 November 2012 

	23 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	24 	 Amended by resolution of the Compensation Committee dated 24 October 2007 

  
 5 

	2.2	 An Eligible Person or Participant will be treated as “Interested” in Shares if those Shares are held by: 

 

	 	(a)	 the Eligible Person or Participant beneficially; 

  

	 	(b)	 a member of the Eligible Person’s or Participant’s Close Family beneficially; 

 

	 	(c)	 a family trust or pension trust (not including a pension scheme of any Group Company) in which the Eligible Person or Participant is interested;

  

	 	(d)	 a private company in which the Eligible Person or Participant or their Close Family is interested as to more than 25% of the voting power, income and capital
on a winding up; or 

  

	 	(e)	 a nominee for any of the above, 

 and not (save with the written consent of the Compensation Committee) subject to any Encumbrance provided that any Shares which are the subject of a Basic Share Award or a Basic Share Right will be treated as
Shares in which an Eligible Person or Participant is Interested but, for the avoidance of doubt, any Shares which are issued as Bonus Share Awards or pursuant to Bonus Shares Rights pursuant to the Bonus Deferral Program shall not be treated as
Shares in which an Eligible Person is Interested prior to: 
  

	 	(a)	 in the case of a Bonus Share Award, any contingency attaching to such award lapsing; and 

 

	 	(b)	 in the case of a Bonus Share Right, the option to acquire Shares pursuant to the rights being validly exercised, 

and, also for the avoidance of doubt any unexercised options under the WPP Executive Stock Ownership Plan adopted by the directors
of the Company on 24 June 1996 shall also not be treated as Shares in which an Eligible Person or Participant is Interested. 
  

	2.3	 The terms Basic Share Award, Basic Share Right, Bonus Share Award and Bonus Shares Right will have the same meanings as they have in the rules of the Bonus
Deferral Program as amended from time to time. 

  

	2.4	 Words importing the singular shall include the plural and vice versa and words importing the masculine shall include the feminine.

  

	2.5	 Any reference, express or implied, to an enactment includes references to: 

 

	 	(a)	 that enactment as amended, extended or applied by or under any other enactment; and 

 

	 	(b)	 any enactment which that enactment re-enacts (with or without modification). 

 

	2.6	 Any reference to a Rule is a reference to one of these Rules. 

 

	3	 ELIGIBILITY25 

  

	3.1	 No person is entitled, by virtue of the provisions of the Plan, to participate as of right in the Plan. 

 

	25 	 Amended by resolution of the Compensation Committee dated 14 December 2006 

  
 6 

	3.2	 The Compensation Committee may decide from time to time which Eligible Persons may participate and the extent of their participation in the Plan.

  

	4	 ACQUISITION OF INVESTMENT SHARES 

  

	4.1	 In order to participate in the Plan and to be eligible to receive an Award an Eligible Person must: 

 

	 	(a)	 agree to commit Shares in which he is Interested to the Plan on or before the Commitment Date which the Compensation Committee has specified in relation to an
Award; and 

  

	 	(b)	 actually commit Shares in accordance with Rule 7 in which he is Interested to the Plan on or before that Commitment Date and thereby agree to remain
Interested in those Shares from that Commitment Date to the end of the I&P Period. 

  

	4.2	 Subject to Rule 4.3 the maximum aggregate Value of Shares (being the Value determined as at the date of the letter from the Company to an Eligible Person
inviting him to receive an Award) which an Eligible Person may commit as Investment Shares over all Awards made to that Eligible Person under the Plan for which the relevant I&P Period has not yet expired shall be 400 per cent. of the
Eligible Person’s Annual Earnings. The Compensation Committee may decide a lower maximum Value of Shares for an Eligible Person in relation to any Award. 

 

	4.3	 The maximum aggregate Value of Shares (determined in accordance with Rule 4.2) which MSS may commit as Investment Shares over all Awards under the Plan for
which the relevant I&P Period has not yet expired shall be $18m provided that MSS may not commit Investment Shares with a Value of more than: 

  

	 	(a)	 $10m in respect of Awards for which the I&P Period commences in 2004; and 

 

	 	(b)	 $2m in respect of any year thereafter. 

  

	4.4	 The Compensation Committee shall establish arrangements for permitting Eligible Persons whom it has invited to participate in the Plan to acquire their
Investment Shares by the Commitment Date provided that any such arrangements shall be in accordance with the investment policy (if any) determined from time to time by the Compensation Committee. 

 

	4.5	 In the case of Eligible Persons who were not granted Awards under the Original LEAP, at least one third of the Investment Shares required to be committed to
the Plan to enable the first Award to be granted pursuant to the Plan to that Eligible Person must, unless the Compensation Committee determines otherwise, be Shares which the Eligible Person has not received or purchased pursuant to any incentive
arrangement of a Group Company (except pursuant to the exercise of a share option in respect of which the exercise price payable to acquire the shares was not less than the market value of those shares at the date of grant of the option) or which
have not been purchased in the market for cash by means of a matched sale and purchase (bed and breakfasting). 

  

	4.6	 If, by the Commitment Date, a Participant has failed to commit the number of Investment Shares which it has been determined he should commit in relation to an
Award, then, except in such exceptional circumstances as the Compensation Committee may from time to time determine, that Award will lapse. 

  
 7 

	5	 PLAN LIMITS 

  

	5.1	 In relation to Awards granted prior to 31 December 2006 (but disregarding any awards or grants which have lapsed): 

 

	 	(a)	 on average over the 10 year period, ending on the date on which an Award is to be granted under the Plan, the number of Shares which are required to be issued
to satisfy: 

  

	 	(i)	 Awards granted under the Plan (including the Award which is about to be granted); and 

 

	 	(ii)	 options or awards granted or made under any other employees’ share scheme of the Company26 during that 10 year period 

will not exceed 10% of the issued ordinary share capital of the Company from time to time; and 

 

	 	(b)	 the number of Shares in respect of which Awards may be granted under the Plan on any day which are to be satisfied by the issue of Shares when added to the
aggregate of: 

  

	 	(i)	 the number of Shares which immediately prior to that day have been or are to be issued to satisfy outstanding Awards under the Plan; and

  

	 	(ii)	 the number of Shares which immediately prior to that day have been or are to be issued to satisfy options or awards granted or made under any other
employees’ share scheme of the Company27 in the ten years immediately
before that day 

  

	 	shall	 not exceed 13% of the issued ordinary share capital of the Company for the time being. 

 

	5.2	 In relation Awards granted after 31 December 2006 the number of Shares in respect of which Awards may be granted under the Plan on any day which are to
be satisfied by the issue of Shares when added to the aggregate of: 

  

	 	(a)	 the number of Shares which immediately prior to that day have been or are to be issued to satisfy outstanding Awards under the Plan; and

  

	 	(b)	 the number of Shares which immediately prior to that day have been or are to be issued to satisfy options or awards granted or made under any other
employees’ share scheme of the Company28 in the ten years immediately
before that day 

 shall not exceed 10% of the issued ordinary share capital of the Company for the time
being.29 

 

	26 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	27 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	28 	 Amended by resolution of the Compensation Committee dated 29 September 2008 

	29 	 Amended by resolution of the Compensation Committee dated 26 October 2006 

  
 8 

	6	     AWARDS 

  

	6.1	 The Compensation Committee may decide, from time to time, that the grant of an Award may be subject to the satisfaction of such conditions as it determines
and as it shall notify to an Eligible Person at the time that he is invited to participate. 

  

	6.2	 By agreeing to participate in the Plan (having been invited to do so) and by agreeing to commit Investment Shares by the Commitment Date in accordance with
Rule 4, an Eligible Person shall be entitled to receive an Award granted by the Compensation Committee. Awards will normally be made during an Award Period, but exceptionally may be made at other times. 

 

	6.3	 An Award shall relate to such number of Matching Shares as the Compensation Committee may determine not exceeding five Matching Shares (four in the case of
Awards for which the I&P Period commences in 2004) per Participant for every one Investment Share committed by the Participant in question. Subject to Rule 12.7, the number of Matching Shares which become Vested Matching Shares shall be
determined at the end of the I&P Period and will depend on the extent to which the Performance Conditions or other conditions as referred to in Rule 8 are satisfied. 

 

	6.4	 The Compensation Committee shall determine the form in which the Award is made and its full terms. In particular, the Award may take the form of any one or
more of the following, provided that the terms of the Award are consistent with the Plan: 

  

	 	(a)	 an award of Matching Shares, subject to restrictions, or a promise of Matching Shares; 

 

	 	(b)	 an option to acquire the Matching Shares exercisable for a nil or a nominal consideration; or 

 

	 	(c)	 such other form which the Compensation Committee considers has a substantially similar economic purpose or effect, 

and the Compensation Committee may determine that an Award may be satisfied by a Group Company or the trustees of an ESOP (with the
agreement of such Group Company or trustees, as appropriate) or otherwise as it considers appropriate. 
  

	6.5	 A Participant shall become entitled to acquire, receive or retain (depending on the form of the Award) the number of Vested Matching Shares comprised in an
Award in accordance with the form of the Award under Rule 6.4 on the Vesting Date, only if both the following conditions are met: 

  

	 	(a)	 unless the Compensation Committee determines otherwise: 

  

	 	(i)	 the Participant remains Interested in all of the relevant Investment Shares until the end of the I&P Period; and 

 

	 	(ii)	 if a Participant ceases to be in Employment prior to the Vesting Date and is a Good Leaver, the Participant remains Interested in all of the relevant
Investment Shares until the Vesting Date; and 

  

	 	(b)	 subject to Rules 9 and 11, if the Participant continues in Employment throughout the I&P Period until the Vesting Date. 

 

	6.6	 The Participant shall cease to have any rights in respect of the number of Matching Shares comprised in an Award which are not Vested Matching Shares with
effect from the end of the 

  
 9 

	 	 
I&P Period, and shall cease to have any rights in respect of all the Matching Shares comprised in an Award which shall lapse with effect from the earliest of: 

 

	 	(a)	 subject to Rules 9 and 11, the cessation of Employment; 

  

	 	(b)	 unless the Compensation Committee determines otherwise, his failure to remain Interested in accordance with Rule 6.5 in all of the Investment Shares that
relate to that Award; 

  

	 	(c)	 subject to Rule 6.7, the date on which a Participant transfers, assigns, uses as security or otherwise charges an Award or turns an Award to account, or
attempts or purports to do any of the same; 

  

	 	(d)	 the date on which an Award lapses under Rule 6.8; and 

  

	 	(e)	 the date on which Rule 13.15 applies. 

  

	6.7	 An Award is personal to a Participant and cannot be transferred, assigned, used as security or otherwise charged or turned to account except that the Award
may be transferred if, immediately after the transfer, the Participant would be Interested in the Award within the meaning of Rule 2.2 if when applying the provisions of Rule 2.2 the word Shares in that Rule were replaced by the word Award (and
making such further changes to the wording of Rule 2.2 as are required to give effect to this Rule) but only for so long as the Participant remains so Interested. 

 

	6.8	 An Award shall lapse if the Participant commits an act of bankruptcy or enters into any arrangement with his creditors under any formal insolvency procedure.

  

	6.9	 The receipt of an Award shall not confer on the Participant (unless otherwise provided in the terms of the Award) any right to the allotment of a specified
number of Shares by the Company or to the transfer of a specified number of Shares from any particular transferor. The discharge of the Award shall be in accordance with Rule 12. 

 

	6.10	 If an Award is made in a form that does not confer on the Participant the right to receive dividends on the relevant Vested Matching Shares from the date the
Award is made, the Compensation Committee may provide that the Participant shall, subject to Rule 6.11, be entitled to receive at the time of the discharge of the Award to which the entitlement relates an issue or transfer of, or a release of
restrictions in respect of, that number of Shares which could have been purchased if: 

  

	 	(a)	 the dividends which would have been paid on such Vested Matching Shares (had the form of the Award conferred the right to receive dividends) been reinvested
in Shares on the date each dividend is paid after the date that the Award is made and during the I&P Period; and 

  

	 	(b)	 the dividends which would have been paid on Shares which would have been held pursuant to that reinvestment in Shares had those dividends been further
reinvested in Shares, again on the date each dividend is paid during the I&P Period.30 

  

	6.11	 If a Participant is a Bad Leaver any right to receive additional Shares under 6.10 shall, unless the Compensation Committee determines otherwise, lapse on the
date of termination of Employment. 

  

	30 	Amended by resolution of the Compensation Committee dated 24 October 2007 

  
 10 

	6.12	 For the avoidance of doubt a Participant shall not be entitled to any voting rights in respect of Shares to be issued or transferred or released from
restrictions pursuant to Rule 6.10 until those Shares are actually issued or transferred or released from those restrictions to the Participant. 

  

	6.13	 If the Company and the Participant agree that an election under Section 431 ITEPA should be made, the Company and the Participant will both sign such an
election and do all such other things as are necessary to give effect to such an election. 

  

	7	     COMMITMENT OF INVESTMENT SHARES 

 

	7.1	 Any Shares in which an Eligible Person is or becomes Interested for the purposes of Rule 4 shall be committed to the Plan and held under arrangements approved
by the Compensation Committee so as to constitute the Investment Shares of the Participant for a particular Award. 

  

	7.2	 The Compensation Committee shall be entitled to rely on a declaration in a form satisfactory to it that an Eligible Person or Participant is or continues to
be (respectively) Interested in the Investment Shares. 

  

	7.3	 A Participant shall forthwith notify the Company Secretary if he ceases to be Interested in the Investment Shares or any of them.

  

	7.4	 The commitment of Shares to the Plan as Investment Shares shall not of itself affect any right of the Eligible Person to dividends or other rights attaching
to those Shares. 

  

	7.5	 Shares shall cease to be Investment Shares at the end of the I&P Period or on the Vesting Date if Rule 6.5(a)(ii) applies or, if earlier, when the
corresponding Award lapses under Rule 6.6. 

  

	8	     PERFORMANCE CONDITIONS 

  

	8.1	 Subject to Rule 8.4, the number of Matching Shares comprised in an Award which become Vested Matching Shares shall be determined as soon as practicable
following the end of the I&P Period and will depend on the extent to which such Performance Conditions or other conditions as the Compensation Committee shall, from time to time determine on the making of an Award, are satisfied.

  

	8.2	 In the absence of a determination by the Compensation Committee to the contrary under Rule 8.1 above, the Performance Conditions set out in the Schedule 1
will apply to Awards granted in respect of the year 2004, the Performance Conditions in Schedule 2 will apply to Awards granted in respect of the year 2005 and the Performance Conditions in Schedule 3 will apply to other Awards granted31 under the Plan. 

 

	8.3	 If the Compensation Committee determines that exceptional circumstances have occurred or have prevailed at any time during the I&P Period applicable to an
Award, the Compensation Committee shall have the power to determine that the number of Matching Shares which may become Vested Matching Shares at the end of an I&P Period, in respect of all Awards having the same I&P Period, shall be varied
by such number as the Compensation Committee considers appropriate. 

  

	31 	Amended by resolution of the Compensation Committee dated 26 October 2006 

  
 11 

	8.4	 If a Participant ceases to be in Employment by reason of his death or serious long term illness preventing the Participant from carrying out his duties of
employment, and unless the Compensation Committee determines otherwise, in respect of that Participant’s Award, the I&P Period will be treated as ending on the date of the Participant’s death or cessation of employment (or such other
date as the Compensation Committee may determine).32

  

	9	     CESSATION OF EMPLOYMENT 

  

	9.1	 Subject to Rules 9.2 and 9.3, if a Participant ceases to be in Employment prior to the Vesting Date of an Award, that Award shall lapse except to the extent
that the Compensation Committee determines otherwise. 

  

	9.2	 If a Participant ceases to be in Employment in the first year of an I&P Period and is a Good Leaver the Award applicable to that I&P Period shall
lapse except to the extent that the Compensation Committee determines otherwise. 

  

	9.3	 Subject to Rule 9.2, if a Participant ceases to be in Employment prior to the Vesting Date and is a Good Leaver, Rule 6 shall apply as if:

  

	 	(a)	 the number of Matching Shares which the Participant could become entitled to acquire at the end of the I&P Period, depending on the extent to which the
Performance Conditions are satisfied at the end of the I&P Period under Rule 8; and 

  

	 	(b)	 the number of Shares which the Participant could become entitled to pursuant to Rule 6.10 

were reduced to the Relevant Proportion of the number of Matching Shares and Shares respectively to which the Participant would
have been entitled if his Employment had not terminated. 
  

	9.4	 In consequence of Rule 9.3: 

  

	 	(a)	 Rule 6.5(b) shall cease to apply; and 

  

	 	(b)	 the Participant shall become entitled to acquire, receive or retain (depending on the form of the Award) on the date determined pursuant to Rule 12:

  

	 	(i)	 a number of Matching Shares; and 

  

	 	(ii)	 the Shares issued, transferred or retained pursuant to Rule 6.10, 

(reduced in either case to the Relevant Proportion in accordance with Rule 9.3), and dependent, in both cases, on the extent to
which the Performance Conditions are satisfied. 
  

	9.5	 Subject to any relevant legal or regulatory requirements prevailing in any relevant jurisdiction, for the purposes of this Rule a woman who ceases to be in
Employment due to pregnancy or confinement will be regarded as having ceased Employment on the date on which she indicates that she does not intend to return to work. In the absence of such indication and if she has not already returned to work she
will be regarded as having ceased Employment on the last day on which she is entitled to return to work. A woman who exercises her statutory right or any equivalent contractual right to return to work following pregnancy or confinement shall not be
treated as having ceased to be in Employment. 

  

	32 	Amended by resolution of the Compensation Committee dated 15 December 2005 

  
 12 

	10	     VARIATION OF CAPITAL 

  

	10.1	 In the event of any increase or variation in the capital of the Company arising out of or in connection with a capitalisation issue, an offer to the holders
of Shares, a rights issue, a subdivision, consolidation or reduction of capital, special dividend, demerger, or other variation of capital, the terms of outstanding Awards and the terms on which Investment Shares have been contributed to the Plan
may be adjusted in such manner and on such terms as the Compensation Committee considers appropriate. An adjustment shall not have effect unless the auditors or other advisers appointed by the Compensation Committee acting as experts and not
arbitrators confirm that in their opinion the adjustment is fair and reasonable and such confirmation shall be final and binding. 

  

	10.2	 Participants shall be notified of any adjustment made under this Rule. 

 

	11	     CHANGE OF CONTROL 

  

	11.1	 Subject to Rule 11.4: 

  

	 	(a)	 if any person (and/or persons acting in concert) obtains Control of the Company as a result or in consequence of making a general offer to acquire the whole
of the issued share capital of the Company which is made subject to a condition such that if satisfied the person making the offer will have Control of the Company, or 

 

	 	(b)	 if any person (and/or persons acting in concert) obtains Control of the Company other than as a result of or in consequence of making such general offer but
the offeror is bound by Rule 9 of the City Code on Takeovers and Mergers to make a general offer for the minority, 

 then: 
  

	 	(i)	 in relation to all outstanding Awards the I&P Period shall be deemed to end on the Change of Control Date; 

 

	 	(ii)	 the number of Vested Matching Shares which a Participant may become entitled to acquire shall be determined as at the Change of Control Date dependent on the
extent to which the Performance Conditions are satisfied at that date, having regard to Rule 11.2 below; and 

  

	 	(iii)	 on the Change of Control Date the Participant shall cease to have any rights in respect of outstanding Awards except in relation to the Vested Matching Shares
under Rule 11.1(b)(ii) 

 provided that if the value (as determined pursuant to Section 280G of
IRC) of the Vested Matching Shares which a Participant may become entitled to acquire upon a person or persons obtaining Control of the Company when aggregated with any other amounts which the Participant becomes entitled to receive or acquire upon
that person or persons obtaining Control and which in either case must be aggregated for the purposes of calculating the imposition of any excise tax pursuant to Section 4999 of IRC is equal to or exceeds by 20% or less three times the
“base amount” (as defined in Section 280G(b)(3) of IRC) for that Participant the number of Vested Matching Shares will be reduced, but only if the Participant would be better off by such reduction after taking into account all
arrangements between the Participant and the Company, by such number as shall be necessary to avoid the imposition of the excise tax imposed by Section 4999 of IRC on the amounts which the Participant is entitled to acquire or receives upon
that person or persons obtaining Control of the Company. 

  
 13 

	11.2	 For the purpose of Rule 11.1 in determining the Company’s TSR the End Period (as defined in the Schedule) shall be deemed to be a period ending on the
Change of Control Date. 

  

	11.3	 If: 

  

	 	(a)	 under Part 18A of the Companies (Jersey) Law 1991 the Court sanctions a compromise or arrangement for the purposes of or in connection with a scheme for the
reconstruction of the Company or its amalgamation with any other company or companies; or 

  

	 	(b)	 a resolution is passed for the winding up of the Company for the purposes of or in connection with a reconstruction or division of the Company or its
business, 

 the terms of outstanding Awards and the terms on which Investment Shares have been
contributed to the Plan will be varied in such manner as the Compensation Committee considers appropriate. A variation shall not have effect unless the auditors or other advisers appointed by the Compensation Committee acting as experts and not as
arbitrators confirm that in their opinion the variation is fair and reasonable and such confirmation shall be final and
binding.33 

 

	11.4	 If any company (the “Acquiring Company”) obtains Control of the Company in accordance with Rule 11.1 and: 

 

	 	(a)	 the Acquiring Company also obtains Control of another company (the “Target Company”) within such period as the Compensation Committee may determine
and, as a consequence of obtaining such Control, the Company and the Target Company become subsidiaries of the Acquiring Company; and 

  

	 	(b)	 the shareholders of the Company and the Target Company before the Acquiring Company obtained Control of the Company and the Target Company are the same
persons who substantially comprise the shareholders of the Acquiring Company after the Acquiring Company obtained such Control, 

 then in relation any outstanding Awards the Compensation Committee may determine that the I&P Period shall not be deemed to end on the Change of Control Date under Rule 11.1(i) and it may determine (with the
agreement of the Acquiring Company) that a Participant is required to release any outstanding Awards in consideration of the grant to the Participant by the Acquiring Company of an equivalent award. 

 

	11.5	 For the purpose of Rule 11.4 an award granted pursuant to Rule 11.4 is an equivalent award to an Award if, but only if: 

 

	 	(a)	 the shares to which it relates are in the Acquiring Company, and it is subject to the provisions of the Plan in the same manner as the Award immediately prior
to its release; 

  

	 	(b)	 the shares to which it relates are of an equivalent value to the value of the Shares which were subject to the Award immediately prior to the release, and for
this purpose the Compensation Committee shall determine such equivalent value provided that the release of an Award and the grant of an equivalent award under Rule 11.4 shall not have effect unless the auditors or other advisers appointed by the
Compensation Committee acting as experts and not arbitrators confirm that in their opinion the equivalent value is fair and reasonable and such confirmation shall be final and binding; and 

 

	33 	Amended by resolution of the Compensation Committee dated 29 September 2008 

  
 14 

	 	(c)	 such award is subject to the Performance Conditions or such other performance conditions that the Compensation Committee determines are substantially no more
and no less onerous than the Performance Conditions. 

  

	11.6	 With effect from the release of an Award and the grant of an equivalent award pursuant to Rule 11.4 the Plan will be construed as if:

  

	 	(a)	 the equivalent award had been granted at the same time as the Award it replaces; 

 

	 	(b)	 references to the Company in the Rules were references to the Acquiring Company; and 

 

	 	(c)	 references to Shares were references to shares in the Acquiring Company 

and the Compensation Committee may make such amendments as may be necessary to give effect to Rule 11.4. 

 

	12	     DISCHARGE OF AWARDS 

  

	12.1	 The manner in which an Award is discharged on the Vesting Date will depend on the form of the Award determined by the Compensation Committee under Rule 6.4.

  

	12.2	 Awards will be discharged by the transfer or issue of or the release of restrictions relating to the number of Vested Matching Shares to the Participant (or
as he may direct, or to a depository in the case of ADRs) normally from an ESOP or from Treasury Shares held by the Company. 

  

	12.3	 Following the end of the last financial year of the I&P Period, the Compensation Committee will determine the extent to which the Performance Conditions
have been satisfied such determination to be made at least one week before the Vesting Date. 

  

	12.4	 Subject to Rule 12.7, once the Compensation Committee has determined the extent to which the Performance Conditions have been satisfied in relation to an
Award and, subject to the Participant being in Employment on the Vesting Date (or if the Participant has been a Good Leaver and the provisions of Rule 9.3 apply or if the Compensation Committee has otherwise exercised its discretion under Rule 9),
the Compensation Committee will procure that the Award is discharged on the Vesting Date in accordance with Rule 12.2. 

  

	12.5	 Any transfer or issue of or release of restrictions relating to Vested Matching Shares to a Participant (or as he may direct or to a depository in the case of
ADRs) is subject to the Compensation Committee being satisfied that the transfer, issue or release would be lawful in any relevant jurisdiction. 

  

	12.6	 The transfer or issue of, or release of restrictions relating to, Shares under the Plan is subject to obtaining any approval or consent required under the
Listing Rules published by the United Kingdom Listing Authority, the Rules of the London Stock Exchange, the Admission and Disclosure Standards of the London Stock Exchange, and otherwise complying with the provision of City Code on Take-overs and
Mergers and any other applicable regulations or enactment (whether in the United Kingdom or overseas). The Participant shall do all things necessary to obtain, or obviate the need for, such approval or consent. 

  
 15 

	12.7	 If a Participant ceases to be in Employment by reason of his death or serious long term illness preventing the Participation from carrying out his duties of
employment, and unless the Compensation Committee exercises its discretion under Rule 8.4: 

  

	 	(a)	 the Participant’s Award shall be discharged in favour of his personal representatives prior to the Vesting Date (in the case of a Participant’s
death); 

  

	 	(b)	 the date upon which such discharge should occur within 6 months of the Participant ceasing to be in Employment34; and 

  

	 	(c)	 the number of Matching Shares to be treated as Vested Matching Shares at the date the I&P Period shall be treated as ending under Rule 8.4 based upon the
extent to which the Performance Conditions would have been satisfied as at the date of death or termination of employment by reason of serious illness.35 

  

	13	     MISCELLANEOUS 

  

	13.1	 The Plan shall be administered by the Compensation Committee whose decision on any matter concerning the Plan shall be final and binding unless it is a matter
in respect of which the Rules provide that the decision of the auditors or any other adviser is final and binding. 

  

	13.2	 The Compensation Committee or any committee or agent that they may from time to time delegate authority to, shall approve all documents required in connection
with Awards. 

  

	13.3	 The Compensation Committee may establish arrangements under which the cash value of an Award may be paid to an Eligible Person in lieu of the discharge of the
Award under Rule 12. 

  

	13.4	 The cost of establishing and operating the Plan (including but not limited to stamp duty and stamp duty reserve tax, if any, arising on a transfer of Shares
pursuant to Rule 12) shall be borne by the Company but may be recharged to the relevant Group Companies on such arm’s length basis as is considered appropriate from time to time.36 

  

	13.5	 Any notice given under the Plan is to be in writing and signed by or on behalf of the party giving it. The notice may be served by hand or by sending it by
pre-paid post to: 

  

	 	(a)	 in the case of the Company, its registered office from time to time marked for the attention of the Company Secretary; and 

 

	 	(b)	 in the case of a Participant, the address which he shall have given to the Company for the purpose or which shall be known to the Company to be his address
from time to time. 

  

	13.6	 Any notice served shall be deemed to have been received: 

  

	 	(a)	 at the time of delivery if delivery is by hand; or 

  

	 	(b)	 in the case of pre-paid post, on the fifth Trading Day after the date of posting. 

 

	13.7	 Evidence that the notice was properly addressed, stamped and put in the post shall be conclusive evidence of posting. 

 

	34 	Amended by resolution of the Compensation Committee dated 15 December 2005 

	35 	Amended by resolution of the Compensation Committee dated 15 December 2005 

	36 	Amended by resolution of the Compensation Committee dated 29 September 2008 

  
 16 

	13.8	 Participation in the Plan is a matter separate from any contract of employment or other agreement and any benefit conferred by the Plan shall not be counted
for pension or any other purpose. 

  

	13.9	 The rights and obligations of any individual under the terms of his office or employment with any Group Company will not be affected by his participation in
the Plan and the Plan does not form part of any contract of employment between any individual and any Group Company. 

  

	13.10	 A Participant shall have no entitlement by way of compensation or damages resulting from the termination of the office or employment (for any reason and
whether lawful or not) by virtue of which he is or may be eligible to participate in the Plan or for the loss or reduction of any right or benefit or prospective right or benefit under the Plan which he might otherwise have enjoyed whether the
compensation is claimed for wrongful dismissal or otherwise. 

  

	13.11	 The Plan is intended to operate on a worldwide basis and, accordingly, the Compensation Committee may adopt any rate of exchange for converting any currency
into any other currency as it decides at any time and from time to time for any purpose in connection with the Plan. 

  

	13.12	 No obligation to transfer, issue or release any restrictions or procure the transfer or release of any restrictions of Shares shall arise, nor shall there be
any obligation to do any other thing in relation to a Participant under or in connection with the Plan or the making or vesting of any Award unless and until the Compensation Committee is satisfied in its discretion that either:

  

	 	(a)	 the Participant has made payment or has made arrangements (which may include where specified at the date of grant of an Award by the Compensation Committee,
validly electing for the Participant to be liable directly for any employer’s National Insurance contributions) satisfactory to the Compensation Committee for the payment to the relevant Group Company or other person of such sum as is, in the
sole discretion of the Compensation Committee, sufficient to settle any liability for any tax and/or, unless the Compensation Committee otherwise determines, social security contributions (which, within the UK shall include employees’ National
Insurance contributions, and where determined by the Compensation Committee at the time of the grant of the Award, employer’s National Insurance contributions) or the like (in any jurisdiction) which are or may be recovered from such person in
connection with the Plan or any Award and in respect of which the relevant Group Company or other person is or may be liable to account for or pay in any jurisdiction; or 

 

	 	(b)	 the Participant has entered into an agreement satisfactory to the Compensation Committee to ensure that such a payment will be made by the Participant.

  

	13.13	 Receipt of an Award shall authorise the Company or any person nominated by the Company at its sole discretion to sell such number of Vested Matching Shares as
it may estimate as being necessary to produce a cash sum sufficient to meet the liabilities referred to in Rule 13.12 and account to the relevant Group Company or other person and/or the relevant authorities in respect of such tax and/or social
security liabilities (in any jurisdiction) at the appropriate time. 

  

	13.14	 If a Participant owes a debt or other monetary obligation to a Group Company, the relevant Group Company has a charge over the Participant’s interest in
the Plan (but not over his Investment Shares). Satisfaction of an Award may be withheld until the Participant has discharged, to the satisfaction of the Compensation Committee, the debt or other monetary obligation. 

  
 17 

	13.15	 If a Participant who has ceased to be in Employment breaches any contractual obligation owed to any Group Company relating to restrictions on that Participant
following the termination of his Employment the Participant’s Award shall be forfeited. 

  

	13.16	 The Plan and any Award shall be governed by and construed in accordance with the laws of England and Wales and the Company and the Participants (together with
any Eligible Persons who do not become Participants) shall submit to the exclusive jurisdiction of the Courts of England and Wales. 

  

	14	     AMENDMENT 

  

	14.1	 Subject to Rules 14.2 and 14.4, the Compensation Committee may at any time alter or add to all or any provisions of the Plan, or the terms of all or any
Awards made under it, in any respect. 

  

	14.2	 No alteration or addition to the advantage of Eligible Persons or Participants shall be made under Rule 14.1 without the prior approval of the Company in
general meeting, other than a minor amendment to benefit the administration of the Plan, to take account of a change in legislation or to obtain or maintain favourable tax, exchange control or regulatory treatment for Eligible Persons, Participants
or Group Companies. 

  

	14.3	 The Compensation Committee may make such amendments and modifications to all or any provisions of the Plan as are necessary or required in order to take
account of laws and regulations in any jurisdiction which enable non-UK resident Eligible Persons to participant in the Plan including the establishment of separate plans in any such jurisdictions which replicate in all substantial respects the
provisions of the Plan. 

  

	14.4	 No alteration or addition shall be made to the terms of any Award made prior to the date of the alteration or addition which would adversely affect a
Participant’s interest in that Award in any material respect without the consent of the relevant Participant. 

  

	15	     DURATION 

 No Award may be granted under the Plan after the fifth anniversary of the approval of the Plan in General Meeting without the prior approval of the Company in general meeting. 

  
 18 

 SCHEDULE 1 

	1	     DEFINITIONS 

  

	1.1	 The following words and expressions have the following meanings in this Schedule. 

“Comparator Group” means the group of companies which the Compensation Committee shall from time to time,
determine should be the Comparator Group (which shall be set out in the documentation granting the Award) and which shall be, at the date of adoption of the Plan the companies listed below (the ticker numbers for the following companies are those
used on the companies’ respective domestic exchanges): 
 Aegis Group plc (GB:965756), Arbitron Inc (US:ARB), Dentsu
Inc (US:DTSUF), Digitas LLC (US:DTAS), GfK AG (DE:587530), Grey Global Group Inc (GREY), Havas SA (FR:12188), Interpublic Group of Companies Inc (US:IPG), Ipsos SA (FR:7329), Omnicom Group Inc (US:OMC), Publicis Groupe SA (FR:13057), Taylor Nelson
Sofres PLC (GB:191539) and VNU nv (NL:VNUA). 
 “Comparator Group Company” means a company in the
Comparator Group. 
 “End Period” means a period of 6 months, ending on the last day of the I&P
Period. 
 “Matching Factor” means the factor determined pursuant to paragraph 4 of this Schedule which
is to be multiplied by the number of Investment Shares committed to the Plan in respect of an Award which shall determine the extent to which Matching Shares become Vested Matching Shares in relation to that Award under the terms of the Plan which,
for the avoidance of doubt, will not be greater than 4 in respect of Awards in respect of which the I&P Period commences in 2004 and 5 in respect of Awards made in respect of other years and will not, in any circumstances, be less than 0.

 “Start Period” means a period of 6 months, ending on the day before the start of the relevant I&P
Period. 
 “TSR” means the total return to the holders of ordinary shares or units of common stock in the
capital of the Company or Comparator Group Company (as appropriate) based on: 
  

	 	(a)	 share price appreciation; and 

  

	 	(b)	 the assumed reinvestment of dividends, 

 calculated in accordance with paragraph 3 of this Schedule below. 
  

	2	     PERFORMANCE CONDITIONS 

  

	2.1	 Subject to the Compensation Committee determining otherwise (pursuant to Rule 8.1) the Performance Condition that will apply to Awards under the Plan will be
the TSR Condition. 

  

	2.2	 The TSR Condition is the extent to which the TSR of the Company over the I&P Period compares to the TSR of the respective Comparator Group Companies over
the same period determined in accordance with paragraph 4 below. 

  

	37 	 Amended by resolution of the Compensation Committee dated 24 October 2007 

  
 19 

	2.3	 The TSR for each Company, and Comparator Group Company over the I&P Period shall be calculated as follows: 

TSR = (End Value / Start Value) - 1 
 Where: 
  

			
	End Value =	  	the average daily closing price of an ordinary share or unit of common stock in the capital of the Company or Comparator Group Company (as ascertained from the Official List or other
relevant exchange on which that share or unit of common stock is quoted and as determined from time to time by the Compensation Committee) during the End Period, multiplied by the End Shareholding
		
	End Shareholding =	  	the Start Shareholding increased by that number of notional shares that could be acquired using dividends paid during the course of the I&P Period. For this purpose, dividends are
assumed to be paid without any deduction or withholding in respect of tax on the Start Shareholding and the notional shares acquired from previous dividend payments during the I&P Period and on the basis that dividends are assumed to be
reinvested in full in notional shares at the closing price of a Share on the ex-dividend date relative to each such dividend. For the avoidance of doubt, the number of notional shares may include fractions of one share.
		
	Start Shareholding =	  	1,000
shares.38

  

	2.4	 Notwithstanding the provisions of paragraph 0, the Compensation Committee may determine that the TSR of the Company and/or any Comparator Group Company shall
be performed using appropriate alternative data sources (including, but not limited to “total-return” data supplied by Bloomberg or Datastream). In this case, references to End Value and Start Value shall be construed accordingly.

  

	3	     CALCULATION OF THE MATCHING FACTOR 

 

	3.1	 At the end of the I&P Period the TSR for the Company and each Comparator Group Company shall be determined in accordance with paragraph 3 of this
Schedule. 

  

	3.2	 The Comparator Group Companies will then be ranked according to the TSR of each of them with the Comparator Group Company with the highest TSR ranking first.

  

	3.3	 If the TSR of the Company is equal to or better than the Comparator Group Company ranked second pursuant to paragraph 4.2, the Matching Factor shall be four
in respect of Awards for which the I&P Period commences in 2004 and five in respect of other Awards. 

  

	3.4	 If the TSR of the Company is less than the TSR of the median Comparator Group Company the Matching Factor shall be zero. 

 

	38 	 Amended by resolution of the Compensation Committee dated 27 October 2005 

  
 20 

	3.5	 If the TSR of the Company is equal to the TSR of the median Comparator Group Company the Matching Factor shall be 1.2 in respect of Awards for which the
I&P Period commences in 2004 and 1.5 in respect of other Awards. 

  

	3.6	 If the TSR of the Company is equal to the TSR of any Comparator Group Company ranked between the median Comparator Group Company and the Comparator Group
Company ranked second, the Matching Factor shall be determined by the following table (depending on whether the Awards are granted in respect of which the I&P Period commences in 2004 or otherwise): 

 

									
	 	  	No. of Matching Shares for each Investment Share	 
	 WPP Rank within
 Comparator Group
	  	Reduced four year I&P
Period (F)	 	  	Five year I&P Period	 
	 1st
	  	 	4	  	  	 	5	  
	 2nd
	  	 	4	  	  	 	5	  
	 3rd
	  	 	3.6	  	  	 	4.5	  
	 4th
	  	 	2.8	  	  	 	3.5	  
	 5th
	  	 	2	  	  	 	2.5	  
	 6th
	  	 	1.6	  	  	 	2.0	  
	 7th
	  	 	1.2	  	  	 	1.5	  
	 Lower than 7th
	  	 	Nil	  	  	 	Nil	  

 Provided that if the Comparator Group Companies relevant to any particular Award are determined by
the Compensation Committee to be different to those set in the definition of that term, the Compensation Committee may amend this table or any part of it as it considers appropriate but on the basis that no such amendment shall materially

  

																							
	 Matching Factor
	 	 	=	  	 	 	{	  	 	 (F(a) – F(b))x(TSR(wpp) – TSR(b))
	 	 	}	  	 	 	+	  	 	 	F(b)	  
	 	 	 	TSR(a) – TSR(b)	 	 	 

 advantage any Participants in respect of any existing Awards without the prior approval of the
Company in general meeting. 
  

	3.7	 If the TSR of the Company is not equal to the TSR of a Comparator Group Company but is above the TSR of the median ranked Comparator Group Company and below
the TSR of the second ranked Comparator Group Company the Matching Factor will be determined by the following formula39: 

  

																							
	 Matching Factor
	 	 	=	  	 	 	{	  	 	 (F(a) – F(b))x(TSR(wpp) – TSR(b))
	 	 	}	  	 	 	+	  	 	 	F(b)	  
	 	 	 	TSR(a) – TSR(b)	 	 	 

  

	39 	 Formula amended by resolution of the Compensation Committee dated 20 February 2007 

  
 21 

 Where: 

 

			
	a =	  	 refers to the Comparator Group Company that has the lowest recorded TSR result that is also greater than the TSR of
the Company.

		
	b =	  	 refers to the Comparator Group Company that has the highest recorded TSR result that is also less than the TSR of the Company.

		
	TSR(a) =	  	the TSR result relating to company a.
		
	TSR(b) =	  	the TSR result relating to company b.
		
	F(a) =	  	the Factor given by this Schedule at 4.6 relating to company a.
		
	F(b) =	  	the Factor given by this Schedule at 4.6 relating to company b.
		
	TSR(wpp) =	  	the TSR of the Company.

  

	4	     APPLICATION OF THE MATCHING FACTOR 

The Matching Factor determined pursuant to paragraph 4 of this Schedule will be multiplied by the number of Investment Shares
relevant to an Award and the result of that calculation shall be the number of Vested Matching Shares in respect of that Award. 

  
 22 

 SCHEDULE 2 
  

 

	1	     DEFINITIONS 

  

	1.1	 The following words and expressions have the following meanings in this Schedule. 

“Comparator Group” means the group of companies which the Compensation Committee shall from time to time,
determine should be the Comparator Group (which shall be set out in the documentation granting the Award) and which shall be, at the date of adoption of the Plan the companies listed below (the ticker numbers for the following companies are those
used on the companies’ respective domestic exchanges): 
 Aegis Group plc (GB:965756), Arbitron Inc (US:ARB), Dentsu
Inc (US:DTSUF), GfK AG (DE:587530), Havas SA (FR:12188), Interpublic Group of Companies Inc (US:IPG), Ipsos SA (FR:7329), Omnicom Group Inc (US:OMC), Publicis Groupe SA (FR:13057), Taylor Nelson Sofres PLC (GB:191539) and VNU nv (NL:VNUA).

 “Comparator Group Company” means a company in the Comparator Group. 

“End Period” means a period of 6 months, ending on the last day of the I&P Period. 

“Matching Factor” means the factor determined pursuant to paragraph 4 of this Schedule which is to be multiplied
by the number of Investment Shares committed to the Plan in respect of an Award which shall determine the extent to which Matching Shares become Vested Matching Shares in relation to that Award under the terms of the Plan which, for the avoidance of
doubt, will not be greater than 5 and will not be less than 0. 
 “Start Period” means a period of 6
months, ending on the day before the start of the relevant I&P Period. 
 “TSR” means the total
return to the holders of ordinary shares or units of common stock in the capital of the Company or Comparator Group Company (as appropriate) based on: 
  

	 	(a)	 share price appreciation; and 

  

	 	(b)	 the assumed reinvestment of dividends, 

 calculated in accordance with paragraph 3 of this Schedule below. 
  

	2	     PERFORMANCE CONDITIONS 

  

	2.1	 Subject to the Compensation Committee determining otherwise (pursuant to Rule 8.1) the Performance Condition that will apply to Awards under the Plan will be
the TSR Condition. 

  

	2.2	 The TSR Condition is the extent to which the TSR of the Company over the I&P Period compares to the TSR of the respective Comparator Group Companies over
the same period determined in accordance with paragraph 4 below. 

  

 

	40 	 amended by resolution of the Copensation Committee dated 24 October 2007 

  
 23 

	3	     CALCULATION OF TSR 

  

	3.1	 The TSR for each Company, and Comparator Group Company over the I&P Period shall be calculated as follows: 

TSR = (End Value / Start Value) - 1 
 where: 
  

			
	End Value =	  	the average daily closing price of an ordinary share or unit of common stock in the capital of the Company or Comparator Group Company (as ascertained from the Official List or other
relevant exchange on which that share or unit of common stock is quoted and as determined from time to time by the Compensation Committee) during the End Period, multiplied by the End Shareholding
		
	Start Value =	  	the average daily closing price of an ordinary share or unit of common stock in the capital of the Company or Comparator Group Company (as ascertained from the Official List or other
relevant exchange on which that share or unit of common stock is quoted and as determined from time to time by the Compensation Committee) during the Start Period, multiplied by the Start Shareholding
		
	End Shareholding =	  	the Start Shareholding increased by that number of notional shares that could be acquired using dividends paid during the course of the I&P Period. For this purpose, dividends are
assumed to be paid without any deduction or withholding in respect of tax on the Start Shareholding and the notional shares acquired from previous dividend payments during the I&P Period and on the basis that dividends are assumed to be
reinvested in full in notional shares at the closing price of a Share on the ex-dividend date relative to each such dividend. For the avoidance of doubt, the number of notional shares may include fractions of one share.
		
	Start Shareholding =	  	1,000
shares.41

  

	3.2	 Notwithstanding the provisions of paragraph 3.1, the Compensation Committee may determine that the TSR of the Company and/or any Comparator Group Company
shall be performed using appropriate alternative data sources (including, but not limited to “total-return” data supplied by Bloomberg or Datastream). In this case, references to End Value and Start Value shall be construed accordingly.

  

	4	     CALCULATION OF THE MATCHING FACTOR 

 

	4.1	 At the end of the I&P Period the TSR for the Company and each Comparator Group Company shall be determined in accordance with paragraph 3 of this
Schedule. 

  

	4.2	 The Comparator Group Companies will then be ranked according to the TSR of each of them with the Comparator Group Company with the highest TSR ranking first.

  

	4.3	 If the TSR of the Company is equal to or better than the Comparator Group Company ranked second pursuant to paragraph 4.2, the Matching Factor shall be four
in respect of Awards for which the I&P Period commences in 2004 and five in respect of other Awards. 

  

	41 	 Amended by resolution of the Compensation Committee dated 27 October 2005 

  
 24 

	4.4	 If the TSR of the Company is less than the TSR of the median Comparator Group Company the Matching Factor shall be zero. 

 

	4.5	 If the TSR of the Company is equal to the TSR of the median Comparator Group Company the Matching Factor shall be 1.2 in respect of Awards for which the
I&P Period commences in 2004 and 1.5 in respect of other Awards. 

  

	4.6	 If the TSR of the Company is equal to the TSR of any Comparator Group Company ranked between the median Comparator Group Company and the Comparator Group
Company ranked second, the Matching Factor shall be determined by the following table (depending on whether the Awards are granted in respect of which the I&P Period commences in 2004 or
otherwise).42 

 

			
	WPP Rank within	  	No. of Matching Shares for each Investment Share
	Comparator Group	  	Five year I&P Period
	 1st
	  	5
	 2nd
	  	5
	 3rd
	  	4.5
	 4th
	  	3.5
	 5th
	  	2.5
	 6th
	  	1.5
	 Lower than 6th
	  	0

 Provided that if the Comparator Group Companies relevant to any particular Award are determined by
the Compensation Committee to be different to those set in the definition of that term, the Compensation Committee may amend this table or any part of it as it considers appropriate but on the basis that no such amendment shall materially advantage
any Participants in respect of any existing Awards without the prior approval of the Company in general meeting. 
  

	4.7	 If the TSR of the Company is not equal to the TSR of a Comparator Group Company but is above the TSR of the median ranked Comparator Group Company and below
the TSR of the second ranked Comparator Group Company the Matching Factor will be determined by the following
formula:43 

 

																							
	 Matching Factor
	 	 	=	  	 	 	{	  	 	 (F(a) – F(b))x(TSR(wpp) – TSR(b))
	 	 	}	  	 	 	+	  	 	 	F(b)	  
	 	 	 	TSR(a) – TSR(b)	 	 	 

  

	42 	 Amended by resolution of the Compensation Committee dated 27 October 2005 

	43 	 Formula amended by resolution of the Compensation Committee dated 20 February 2007 

  
 25 

 where: 

 

			
	a =	  	 refers to the Comparator Group Company that has the lowest recorded TSR result that is also greater than the TSR of
the Company.

		
	b =	  	 refers to the Comparator Group Company that has the highest recorded TSR result that is also less than the TSR of the Company.

		
	TSR(a) =	  	 the TSR result relating to company a.

		
	TSR(b) =	  	 the TSR result relating to company b.

		
	F(a) =	  	 the Factor given by this Schedule at 4.6 relating to company a.

		
	F(b) =	  	 the Factor given by this Schedule at 4.6 relating to company b.

		
	TSR(wpp) =	  	 the TSR of the Company.

  

	5	     APPLICATION OF THE MATCHING FACTOR 

The Matching Factor determined pursuant to paragraph 4 of this Schedule will be multiplied by the number of Investment Shares
relevant to an Award and the result of that calculation shall be the number of Vested Matching Shares in respect of that Award. 

  
 26 

 SCHEDULE 3 
  

 

	1	 DEFINITIONS 

  

	1.1	 The following words and expressions have the following meanings in this Schedule. 

“Comparator Group” means the group of companies which the Compensation Committee shall from time to time,
determine should be the Comparator Group (which shall be set out in the documentation granting the Award) and which shall be, at the date of adoption of the Plan the companies listed below (the ticker numbers for the following companies are those
used on the companies’ respective domestic exchanges): 
 Aegis Group plc (GB:965756), Arbitron Inc (US:ARB), Dentsu
Inc (US:DTSUF), GfK AG (DE:587530), Havas SA (FR:12188), Interpublic Group of Companies Inc (US:IPG), Ipsos SA (FR:7329), Omnicom Group Inc (US:OMC), Publicis Groupe SA (FR:13057), and Taylor Nelson Sofres PLC (GB:191539). 

“Comparator Group Company” means a company in the Comparator Group. 

“End Period” means a period of 6 months, ending on the last day of the I&P Period. 

“Matching Factor” means the factor determined pursuant to paragraph 4 of this Schedule which is to be multiplied
by the number of Investment Shares committed to the Plan in respect of an Award which shall determine the extent to which Matching Shares become Vested Matching Shares in relation to that Award under the terms of the Plan which, for the avoidance of
doubt, will not be greater than 5 and will not be less than 0. 
 “Median” means a TSR exactly half way
between the TSR of the 5th ranked Comparator Group Company and the 6th ranked Comparator Group Company. 
 “Start
Period” means a period of 6 months, ending on the day before the start of the relevant I&P Period. 

“TSR” means the total return to the holders of ordinary shares or units of common stock in the capital of the
Company or Comparator Group Company (as appropriate) based on: 
  

	 	(c)	 share price appreciation; and 

  

	 	(d)	 the assumed reinvestment of dividends, 

 calculated in accordance with paragraph 3 of this Schedule below. 
  

	2	 PERFORMANCE CONDITIONS 

  

	2.1	 Subject to the Compensation Committee determining otherwise (pursuant to Rule 8.1) the Performance Condition that will apply to Awards under the Plan will be
the TSR Condition. 

  

	44 	 Amended by resolution of the Compensation Committee dated 24 October 2007 

  
 27 

	2.2	 The TSR Condition is the extent to which the TSR of the Company over the I&P Period compares to the TSR of the respective Comparator Group Companies over
the same period determined in accordance with paragraph 4 below. 

  

	3	 CALCULATION OF TSR 

  

	3.1	 The TSR for each Company, and Comparator Group Company over the I&P Period shall be calculated as follows: 

TSR = (End Value / Start Value) - 1 
 where: 
  

			
	 End Value =
	  	the average daily closing price of an ordinary share or unit of common stock in the capital of the Company or Comparator Group Company (as ascertained from the Official List or other
relevant exchange on which that share or unit of common stock is quoted and as determined from time to time by the Compensation Committee) during the End Period, multiplied by the End Shareholding
		
	 Start Value =
	  	the average daily closing price of an ordinary share or unit of common stock in the capital of the Company or Comparator Group Company (as ascertained from the Official List or other
relevant exchange on which that share or unit of common stock is quoted and as determined from time to time by the Compensation Committee) during the Start Period, multiplied by the Start Shareholding
		
	 End Shareholding =
	  	the Start Shareholding increased by that number of notional shares that could be acquired using dividends paid during the course of the I&P Period. For this purpose, dividends are
assumed to be paid without any deduction or withholding in respect of tax on the Start Shareholding and the notional shares acquired from previous dividend payments during the I&P Period and on the basis that dividends are assumed to be
reinvested in full in notional shares at the closing price of a Share on the ex-dividend date relative to each such dividend. For the avoidance of doubt, the number of notional shares may include fractions of one share.
		
	 Start Shareholding =
	  	1,000 shares.

  

	3.2	 Notwithstanding the provisions of paragraph 3.1, the Compensation Committee may determine that the TSR of the Company and/or any Comparator Group Company
shall be performed using appropriate alternative data sources (including, but not limited to “total-return” data supplied by Bloomberg or Datastream). In this case, references to End Value and Start Value shall be construed accordingly.

  

	4	 CALCULATION OF THE MATCHING FACTOR 

  

	4.1	 At the end of the I&P Period the TSR for the Company and each Comparator Group Company shall be determined in accordance with paragraph 3 of this
Schedule. 

  

	4.2	 The Comparator Group Companies will then be ranked according to the TSR of each of them with the Comparator Group Company with the highest TSR ranking first.

  
 28 

	4.3	 If the TSR of the Company is equal to or better than the Comparator Group Company ranked second pursuant to paragraph 4.2, the Matching Factor shall be four
in respect of Awards for which the I&P Period commences in 2004 and five in respect of other Awards. 

  

	4.4	 If the TSR of the Company is less than the TSR of the Median the Matching Factor shall be zero. 

 

	4.5	 If the TSR of the Company is equal to the Median the Matching Factor shall be 1.5 in respect of other Awards. 

 

	4.6	 If the TSR of the Company is equal to the TSR of any Comparator Group Company ranked between the Median and the Comparator Group Company ranked second, the
Matching Factor shall be determined by the following table: 

  

			
	 WPP Rank within
 Comparator Group
	  	 No. of Matching Shares for
 each Investment Share

		
	 1st
	  	5
		
	 2nd
	  	5
		
	 3rd
	  	4.5
		
	 4th
	  	3.5
		
	 5th
	  	2.5
		
	 Median
	  	1.5
		
	 Lower than Median
	  	0

 Provided that if the Comparator Group Companies relevant to any particular Award are determined by
the Compensation Committee to be different to those set in the definition of that term, the Compensation Committee may amend this table or any part of it as it considers appropriate but on the basis that no such amendment shall materially advantage
any Participants in respect of any existing Awards without the prior approval of the Company in general meeting. 
  

	4.7	 If the TSR of the Company is not equal to the TSR of a Comparator Group Company but is above the Median and below the TSR of the second ranked Comparator
Group Company the Matching Factor will be determined by the following
formula45: 

 

																							
	 Matching Factor
	 	 	=	  	 	 	{	  	 	 (F(a) – F(b))x(TSR(wpp) – TSR(b))
	 	 	}	  	 	 	+	  	 	 	F(b)	  
	 	 	 	TSR(a) – TSR(b)	 	 	 

  

	45 	 Formula amended by resolution of the Compensation Committee dated 20 February 2007 

  
 29 

 where: 

 

			
	 a =
	  	 refers to the Comparator Group Company that has the lowest recorded TSR result that is also greater than the TSR of the Company.

		
	 b =
	  	 refers to the Comparator Group Company that has the highest recorded TSR result that is also less than the TSR of the Company.

		
	 TSR(a) =
	  	the TSR result relating to company a.
		
	 TSR(b) =
	  	the TSR result relating to company b.
		
	 F(a) =
	  	the Factor given by this Schedule at 4.6 relating to company a.
		
	 F(b) =
	  	the Factor given by this Schedule at 4.6 relating to company b.
		
	 TSR(wpp) =
	  	the TSR of the Company.

 Provided that where company b would otherwise be the 6th ranked Comparator Group Company, company b
shall a notional company with a TSR exactly half way between the TSR of 5th ranked Comparator Group Company and the 6th ranked Comparator Group Company and in respect of which the Factor given by this schedule at 4.6 shall be 1.5. 

 

	5	 APPLICATION OF THE MATCHING FACTOR 

 The Matching Factor determined pursuant to paragraph 4 of this Schedule will be multiplied by the number of Investment Shares relevant to an Award and the result of that calculation shall be the number of Vested
Matching Shares in respect of that Award.46 

 

	46 	 Amended by resolution of the Compensation Committee dated 26 October 2006 

  
 30 

 SCHEDULE 4 
  

	1	 DEFINITIONS 

 The following words and expressions have the following meanings in this Schedule. 

“Comparator Group” means the group of companies which the Compensation Committee shall from time to time,
determine should be the Comparator Group (which shall be set out in the documentation granting the Award) and which shall be, at the date of adoption of the Plan the companies listed below (the ticker numbers for the following companies are those
used on the companies’ respective domestic exchanges): 
 Aegis Group plc (GB:965756), Arbitron Inc (US:ARB), Dentsu
Inc (US:DTSUF), GfK AG (DE:587530), Havas SA (FR:12188), Interpublic Group of Companies Inc (US:IPG), Ipsos SA (FR:7329), Omnicom Group Inc (US:OMC) and Publicis Groupe SA (FR:13057). 

“Comparator Group Company” means a company in the Comparator Group. 

“End Period” means a period of 6 months, ending on the last day of the I&P Period. 

“Matching Factor” means the factor determined pursuant to paragraph 4 of this Schedule which is to be multiplied
by the number of Investment Shares committed to the Plan in respect of an Award which shall determine the extent to which Matching Shares become Vested Matching Shares in relation to that Award under the terms of the Plan which, for the avoidance of
doubt, will not be greater than 5 and will not be less than 0. 
 “Start Period” means a period of 6
months, ending on the day before the start of the relevant I&P Period. 
 “TSR” means the total
return to the holders of ordinary shares or units of common stock in the capital of the Company or Comparator Group Company (as appropriate) based on: 
  

	 	(e)	 share price appreciation; and 

  

	 	(f)	 the assumed reinvestment of dividends, 

 calculated in accordance with paragraph 3 of this Schedule below. 
  

	2	 PERFORMANCE CONDITIONS 

 Subject to the Compensation Committee determining otherwise (pursuant to Rule 8.1) the Performance Condition that will apply to Awards under the Plan will be the TSR Condition. 

 
 The TSR Condition is the extent to which the TSR of the
Company over the I&P Period compares to the TSR of the respective Comparator Group Companies over the same period determined in accordance with paragraph 4 below. 

 

	47 	 Amended by resolution of the Compensation Committee dated 21 October 2008 

  
 31 

	3	CALCULATION OF TSR 

  

	3.1	 The TSR for each Company, and Comparator Group Company over the I&P Period shall be calculated as follows: 

TSR = (End Value / Start Value) - 1 

where: 
  

			
	 End Value =
	  	the average daily closing price of an ordinary share or unit of common stock in the capital of the Company or Comparator Group Company (as ascertained from the Official List or other
relevant exchange on which that share or unit of common stock is quoted and as determined from time to time by the Compensation Committee) during the End Period, multiplied by the End Shareholding
		
	 Start Value =
	  	the average daily closing price of an ordinary share or unit of common stock in the capital of the Company or Comparator Group Company (as ascertained from the Official List or other
relevant exchange on which that share or unit of common stock is quoted and as determined from time to time by the Compensation Committee) during the Start Period, multiplied by the Start Shareholding
		
	 End Shareholding =
	  	the Start Shareholding increased by that number of notional shares that could be acquired using dividends paid during the course of the I&P Period. For this purpose, dividends are
assumed to be paid without any deduction or withholding in respect of tax on the Start Shareholding and the notional shares acquired from previous dividend payments during the I&P Period and on the basis that dividends are assumed to be
reinvested in full in notional shares at the closing price of a Share on the ex-dividend date relative to each such dividend. For the avoidance of doubt, the number of notional shares may include fractions of one share.
		
	 Start Shareholding =
	  	1,000 shares.

  

	3.2	 Notwithstanding the provisions of paragraph 3.1, the Compensation Committee may determine that the TSR of the Company and/or any Comparator Group Company
shall be performed using appropriate alternative data sources (including, but not limited to “total-return” data supplied by Bloomberg or Datastream). In this case, references to End Value and Start Value shall be construed accordingly.

  

	4	 CALCULATION OF THE MATCHING FACTOR 

  

	4.1	 At the end of the I&P Period the TSR for the Company and each Comparator Group Company shall be determined in accordance with paragraph 3 of this
Schedule. 

  
 32 

	4.2	 The Comparator Group Companies will then be ranked according to the TSR of each of them with the Comparator Group Company with the highest TSR ranking first.

  

	4.3	 If the TSR of the Company is equal to or better than the Comparator Group Company ranked second pursuant to paragraph 4.2, the Matching Factor shall be 5.

  

	4.4	 If the TSR of the Company is less than the TSR of the median Comparator Group Company the Matching Factor shall be zero. 

 

	4.5	 If the TSR of the Company is equal to the median Comparator Group Company the Matching Factor shall be 1.5. 

 

	4.6	 If the TSR of the Company is equal to the TSR of any Comparator Group Company ranked between the median Comparator Group Company and the Comparator Group
Company ranked second, the Matching Factor shall be determined by the following table: 

  

			
	 WPP Rank within
 Comparator Group
	  	 No. of Matching Shares for
 each Investment Share

		
	 1st
	  	5
		
	 2nd
	  	5
		
	 3rd
	  	4
		
	 4th
	  	3
		
	 5th
	  	1.5

 Provided that if the Comparator Group Companies relevant to any particular Award are determined by
the Compensation Committee to be different to those set in the definition of that term, the Compensation Committee may amend this table or any part of it as it considers appropriate but on the basis that no such amendment shall materially advantage
any Participants in respect of any existing Awards without the prior approval of the Company in general meeting. 
  

	4.7	 If the TSR of the Company is not equal to the TSR of a Comparator Group Company but is above the TSR of the median ranked Comparator Group Company and below
the TSR of the second ranked Comparator Group Company the Matching Factor will be determined by the following formula48: 

  

																							
	 Matching Factor
	 	 	=	  	 	 	{	  	 	 (F(a) – F(b))x(TSR(wpp) – TSR(b))
	 	 	}	  	 	 	+	  	 	 	F(b)	  
	 	 	 	TSR(a) – TSR(b)	 	 	 

  

	48 	 Formula amended by resolution of the Compensation Committee dated 20 February 2007 

  
 33 

 where: 

 

			
	 a =
	  	 refers to the Comparator Group Company that has the lowest recorded TSR result that is also greater than the TSR of the Company.

		
	 b =
	  	 refers to the Comparator Group Company that has the highest recorded TSR result that is also less than the TSR of the Company.

		
	 TSR(a) =
	  	the TSR result relating to company a.
		
	 TSR(b) =
	  	the TSR result relating to company b.
		
	 F(a) =
	  	the Factor given by this Schedule at 4.6 relating to company a.
		
	 F(b) =
	  	the Factor given by this Schedule at 4.6 relating to company b.
		
	 TSR(wpp) =
	  	the TSR of the Company.

  

	5	 APPLICATION OF THE MATCHING FACTOR 

 The Matching Factor determined pursuant to paragraph 4 of this Schedule will be multiplied by the number of Investment Shares relevant to an Award and the result of that calculation shall be the number of Vested
Matching Shares in respect of that Award. 

  
 34

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