Document:

Exhibit 10.1.2

 

SECOND AMENDMENT TO AMENDED AND RESTATED
CREDIT AGREEMENT

 

THIS SECOND AMENDMENT
TO AMENDED AND RESTATED CREDIT AGREEMENT (this "Amendment"), with an effective date of February [    ],
2014, is by and among the Lenders party hereto, WELLS FARGO CAPITAL FINANCE, LLC, a Delaware limited liability company,
as the agent for the Lenders (in such capacity, "Agent"), MDC PARTNERS INC., a Canadian corporation ("Parent"),
Maxxcom Inc.,
a Delaware corporation ("Borrower"), and each of the Subsidiaries of Parent identified on the signature pages
hereof (together with Parent and Borrower, the "Loan Parties").

 

WHEREAS, Parent, Borrower,
the other Loan Parties, Agent, and Lenders are parties to that certain Amended and Restated Credit Agreement dated as of March
20, 2013 (as amended, modified or supplemented from time to time, the "Credit Agreement");

 

WHEREAS, Borrower has
advised Agent and Lenders that Parent (or a newly formed Subsidiary of Parent) intends to enter into an agreement to purchase substantially
all the assets of Kingsdale Shareholder Services Inc., a corporation continued under the laws of Ontario (the "Kingsdale
Acquisition")

 

WHEREAS, in connection
with the Kingsdale Acquisition, Borrower, Agent and the Lenders have agreed to amend and modify the Credit Agreement as provided
herein, subject to the terms and provisions hereof.

 

NOW THEREFORE, in consideration
of the premises and mutual agreements herein contained, the parties hereto agree as follows:

 

1.             Defined
Terms. Unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed to such terms in the
Credit Agreement.

 

2.             Amendments
to Credit Agreement. Subject to the satisfaction of the conditions set forth in Section 4 below and in reliance upon
the representations and warranties of the Loan Parties set forth in Section 5 below, the Credit Agreement is hereby amended
as follows:

 

(a)          Article
5 of the Credit Agreement is hereby amended to add the following Section 5.19 at the end thereof:

 

"5.19. Sweep of Kingsdale
Accounts. The Loan Parties shall, or shall cause Kingsdale to, on a monthly basis (or on a more frequent basis if requested
by Agent at any time after an Event of Default has occurred and is continuing) wire all Trust Account Spread Amounts in each Kingsdale
Account to a Controlled Account, provided, that (x) with respect to Kingsdale Accounts located in the United States, so
long as no Event of Default has occurred and is continuing, only the portion of Trust Account Spread Amounts on deposit in such
Kingsdale Accounts in excess of an aggregate US Dollar Equivalent amount equal to (i) $6,000,000 less (ii) the aggregate Dollar
Equivalent amount on deposit in all Deposit Accounts referenced in Section 6.11(b)(i) shall be required to be wired to a Controlled
Account pursuant to this Section 5.19 and (y) with respect to Kingsdale Accounts located outside the United States, so long as
no Event of Default has occurred and is continuing, only the portion of Trust Account Spread Amounts on deposit in such Kingsdale
Accounts in excess of an aggregate US Dollar Equivalent amount equal to (i) $15,000,000 less (ii) the aggregate Dollar Equivalent
amount on deposit in all Deposit Accounts referenced in Section 6.11(b)(ii) shall be required to be wired to a Controlled Account
pursuant to this Section 5.19."

 

    	 

    	 

    

 

(b)          Section
6.11(b) of the Credit Agreement is hereby amended to restate the first sentence thereof in its entirety as follows:

 

(b) Other than
(i) with respect to Deposit Accounts located in the United States, an aggregate Dollar Equivalent amount of not more than $6,000,000
at any one time for a period of more than 4 consecutive days, in the case of Parent and its Subsidiaries, (ii) with respect to
Deposit Accounts located outside the United States, an aggregate Dollar Equivalent amount of not more than $15,000,000 at any one
time for a period of more than 4 consecutive days, in the case of Parent and its Subsidiaries, (iii) amounts deposited into Deposit
Accounts specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for Parent's
or its Subsidiaries' employees, (iv) amounts up to $500,000 deposited into Deposit Accounts specifically and exclusively used for
the payment of sales taxes by Parent's or its Subsidiaries', (v) Deposit Accounts of any Loan Party or any Subsidiary of Parent
which was the target of a Permitted Acquisition, for a period of no more than 45 consecutive Business Days after the consummation
of such Permitted Acquisition, (vi) with respect to segregated Deposit Accounts specifically and exclusively used to hold only
designated media and production-related advances made to a Loan Party by a customer of such Loan Party (and in which no Loan Party
has any interest), and (vii) with respect to the Kingsdale Accounts, make, acquire, or permit to exist Permitted Investments consisting
of cash, Cash Equivalents, or amounts credited to Deposit Accounts or Securities Accounts unless (x) Parent or its Subsidiary,
as applicable, and the applicable bank or securities intermediary have entered into Control Agreements with Agent governing such
Permitted Investments in order to perfect (and further establish) Agent's Liens in such Permitted Investments and (y) any such
cash, Cash Equivalents or amounts credited to Deposit Accounts or Securities Accounts are maintained at a Controlled Account Bank
(as defined in the US Security Agreement).

 

(c)          Section
8.2 of the Credit Agreement is hereby amended to delete the reference therein to "5.15 or 5.17 of this Agreement"
and replace it with the following: "5.15, 5.17 or 5.19 of this Agreement."

 

(d)          Schedule
1.1 to the Credit Agreement is hereby amended to insert the following definition of "Kingsdale", "Kingsdale
Accounts" and "Trust Account Spread Amounts" in the proper place alphabetically:

 

"Kingsdale"
means Kingsdale Partners LP, an Ontario limited partnership.

 

    	-2-

    	 

    

 

"Kingsdale Accounts"
means segregated trust or escrow accounts in the name of Kingsdale maintained with a bank reasonably acceptable to Agent and specifically
and exclusively used to hold funds of third parties (in which no Loan Party has any beneficial interest) in connection with depositary
services provided by Kingsdale in the ordinary course of business for mergers, acquisitions, exchange offers and other similar
corporate transactions; provided, that, subject to Section 5.19, there may be Trust Account Spread Amounts on deposit
from time to time in such accounts.

 

"Trust Account Spread
Amounts" means, with respect to any Kingsdale Account, the aggregate Dollar Equivalent amount on deposit in such Kingsdale
account of all interest and foreign exchange charges accrued on the third party funds on deposit in such Kingsdale Account, to
the extent such interest and foreign exchange charges are owned by or for the benefit of Kingsdale.

 

(e)          Schedule
1.1 to the Credit Agreement is hereby amended to amend and restate clause (l) of the definition of Permitted Indebtedness in its
entirety as follows:

 

"(l) unsecured Indebtedness
incurred in respect of netting services, overdraft protection, employee credit card programs, automatic clearinghouse arrangements,
escrow or trust account arrangements, other cash management and other like services, in each case, incurred in the ordinary course
of business."

 

(f)          Schedule
5.2 to the Credit Agreement is hereby amended to amend and restate clause (d) thereof in its entirety as follows:

 

"(d)   a
detailed report, on a consolidated basis, regarding Loan Parties' cash and Cash Equivalents, including (i) a cash report indicating
restricted and unrestricted cash, (ii) an indication of which amounts constitute Qualified Cash, (iii) the daily cash report by
agency and (iv) an indication of amounts on deposit in the Kingsdale Accounts that constitute Trust Account Spread Amounts."

 

3.             Ratification;
Other Acknowledgments. This Amendment, subject to satisfaction of the conditions provided below, shall constitute an amendment
to the Credit Agreement and all of the other Loan Documents as appropriate to express the agreements contained herein. The Credit
Agreement (other than as amended by this Amendment) and the other Loan Documents shall remain unchanged and in full force and effect
in accordance with their original terms.

 

4.             Conditions
to Effectiveness. This Amendment shall become effective as of the date hereof and upon the satisfaction of the following conditions
precedent:

 

(a)          Agent
shall have received a fully executed copy of this Amendment;

 

(b)          No
Default or Event of Default shall have occurred and be continuing on the date hereof or as of the date of the effectiveness of
this Amendment; and

 

(c)          The
Kingsdale Acquisition shall have been consummated in accordance with the terms of the purchase documents entered into in connection
therewith (the "Kingsdale Purchase Documents".

 

    	-3-

    	 

    

 

5.             Representations
and Warranties. In order to induce Agent and Lenders to enter into this Amendment, each Loan Party hereby represents and warrants
to Agent and Lenders, after giving effect to this Amendment:

 

(a)          All
representations and warranties contained in the Credit Agreement (as amended by this Amendment) and the other Loan Documents are
true and correct on and as of the date of this Amendment, in each case as if then made, other than representations and warranties
that expressly relate solely to an earlier date (in which case such representations and warranties were true and correct on and
as of such earlier date);

 

(b)          No
Default or Event of Default has occurred and is continuing;

 

(c)          The
execution, delivery and performance of this Amendment has been duly authorized by all requisite corporate action on the part of
such Loan Party;

 

(d)          This
Amendment has been duly executed and delivered by each Loan Party that is a party thereto and is the legally valid and binding
obligation of such Loan Party, enforceable against such Loan Party in accordance with its respective terms, except as enforcement
may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or
limiting creditors' rights generally; and

 

(e)          Each
of the conditions set forth in the definition of "Permitted Acquisition" has been satisfied with respect to the Kingsdale
Acquisition, and the Kingsdale Acquisition has been consummated in accordance with the terms of the Kingsdale Purchase Documents.

 

6.              Miscellaneous.

 

(a)          Expenses.
Borrower agrees to pay on demand all costs and expenses of Agent (including the reasonable fees and expenses of outside counsel
for Agent) in connection with the preparation, negotiation, execution, delivery and administration of this Amendment and all other
instruments or documents provided for herein or delivered or to be delivered hereunder or in connection herewith. All obligations
provided herein shall survive any termination of this Amendment and the Credit Agreement as amended hereby.

 

(b)          Governing
Law. This Amendment shall be a contract made under and governed by the internal laws of the State of New York.

 

(c)          Counterparts.
This Amendment may be executed in any number of counterparts, and by the parties hereto on the same or separate counterparts, and
each such counterpart, when executed and delivered, shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same Amendment. Receipt by telecopy or electronic mail of any executed signature page to this Amendment
shall constitute effective delivery of such signature page.

 

    	-4-

    	 

    

 

(d)          References.
Any references in the Credit Agreement to "this Agreement", and any references to the Credit Agreement contained in any
document, instrument or agreement executed in connection with the Credit Agreement shall be deemed to be a reference to the Credit
Agreement as modified by this Amendment.

 

(e)          Loan
Document. This Amendment shall constitute a "Loan Document" as defined in the Credit Agreement.

 

(f)          No
Waiver of Rights. Except as expressly set forth herein, the terms and provisions set forth in this Amendment shall not be deemed
to be a consent to the modification or waiver of any other term or condition of the Credit Agreement, and shall not be deemed to
waive or modify any rights of Agent or the Lenders.

 

7.             Release.

 

(a)          In
consideration of the agreements of Agent and Lenders contained herein and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, each Loan Party, on behalf of itself and its successors, assigns, and other legal
representatives, hereby absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and Lenders,
and their successors and assigns, and their present and former shareholders, affiliates, subsidiaries, divisions, predecessors,
directors, officers, attorneys, employees, agents and other representatives (Agent, each Lender and all such other Persons being
hereinafter referred to collectively as the "Releasees" and individually as a "Releasee"), of
and from all demands, actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums of money,
accounts, bills, reckonings, damages and any and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities
whatsoever (individually, a "Claim" and collectively, "Claims") of every name and nature, known
or unknown, suspected or unsuspected, both at law and in equity, which such Loan Party or any of its respective successors, assigns,
or other legal representatives may now or hereafter own, hold, have or claim to have against the Releasees or any of them for,
upon, or by reason of any circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day and date
of this Amendment, including, without limitation, for or on account of, or in relation to, or in any way in connection with any
of the Credit Agreement, or any of the other Loan Documents or transactions thereunder or related thereto.

 

(b)          Each
Loan Party understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense
and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or
attempted in breach of the provisions of such release.

 

(c)          Each
Loan Party agrees that no fact, event, circumstance, evidence or transaction which could now be asserted or which may hereafter
be discovered shall affect in any manner the final, absolute and unconditional nature of the release set forth above.

 

[Signature Page Follows]

 

    	-5-

    	 

    

  

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed and delivered as of the date first above written. 

 

	 	MDC PARTNERS INC., a federal company
	 	organized under the laws of Canada
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	Authorized Signatory
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	Authorized Signatory
	 	 	 
	 	MAXXCOM INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title: 	Authorized Signatory
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title: 	Authorized Signatory

 

Signature Pages to Second Amendment to Amended and Restated
Credit Agreement

 

    	 

    	 

    

 

6 DEGREES INTEGRATED COMMUNICATIONS
CORP

 

72ANDSUNNY PARTNERS, LLC

 

ACCENT MARKETING SERVICES, L.L.C.

 

ACCUMARK PARTNERS INC. (formerly
known as 6 Degrees Integrated Communications Inc.)

 

ALLISON & PARTNERS LLC

 

ANOMALY PARTNERS LLC

 

ANOMALY INC.

 

ATTENTION PARTNERS LLC

 

BOOM MARKETING INC.

 

BRUCE MAU DESIGN INC.

 

BRUCE MAU DESIGN (USA) LLC

 

BRUCE MAU HOLDINGS LTD.

 

BRYAN MILLS IRADESSO CORP.

 

CAPITAL C PARTNERS GP INC.

 

CAPITAL C PARTNERS LP

By: Capital C Partners GP Inc.

      Its general partner

 

COLLE & MCVOY LLC

 

COMPUTER COMPOSITION OF CANADA LP

By: MDC Canada GP Inc.

       Its general partner

 

CONCENTRIC PARTNERS LLC

 

CRISPIN PORTER & BOGUSKY EUROPE AB

 

CRISPIN PORTER & BOGUSKY LLC

 

DONER PARTNERS LLC

 

DOTGLU LLC

 

Signature Pages to Second Amendment to Amended and Restated
Credit Agreement

 

    	 

    	 

    

 

HELLO DESIGN, LLC

 

HL GROUP PARTNERS LLC

 

INTEGRATED MEDIA SOLUTIONS
PARTNERS LLC

 

KBP HOLDINGS LLC

 

KBS+P ATLANTA LLC (formerly
known as Fletcher Martin LLC)

 

KBS+P CANADA LP KBS+P CANADA SEC

By: MDC Canada GP Inc.

 Its general partner

 

KENNA COMMUNICATIONS GP INC.

 

KENNA COMMUNICATIONS LP

By: Kenna Communications GP Inc.

      Its general partner

 

KIRSHENBAUM BOND SENECAL &
PARTNERS LLC (formerly known as Kirshenbaum Bond & Partners LLC)

 

KIRSHENBAUM BOND & PARTNERS
WEST LLC

 

KWITTKEN PR LLC

 

LAIRD + PARTNERS NEW YORK LLC

 

LBN PARTNERS LLC

 

LUNTZ GLOBAL PARTNERS LLC

 

MAXXCOM GLOBAL MEDIA LLC

 

MAXXCOM INC.

 

MAXXCOM (USA) FINANCE COMPANY

 

MAXXCOM (USA) HOLDINGS INC.

 

MDC ACQUISITION INC.

 

MDC CANADA GP INC.

 

MDC CORPORATE (US) INC.

 

Signature Pages to Second Amendment to Amended and Restated
Credit Agreement

 

    	 

    	 

    

 

MDC INNOVATION PARTNERS LLC
(d/b/a Spies & Assassins)

 

MDC TRAVEL, INC.

 

MONO ADVERTISING, LLC

 

NEW TEAM LLC

 

NORTHSTAR MANAGEMENT HOLDCO INC.

 

NORTHSTAR RESEARCH GP LLC

 

NORTHSTAR RESEARCH HOLDINGS
CANADA INC.

 

NORTHSTAR RESEARCH HOLDINGS USA LP

 

NORTHSTAR RESEARCH PARTNERS INC.

 

NORTHSTAR RESEARCH PARTNERS
(USA) LLC

 

OUTERACTIVE, LLC

 

PULSE MARKETING, LLC

 

REDSCOUT LLC

 

RELEVENT PARTNERS LLC

 

RJ PALMER PARTNERS LLC

 

SKINNY NYC LLC

 

SLOANE & COMPANY LLC

 

SOURCE MARKETING LLC

 

STUDIO PICA INC.

 

TARGETCAST LLC

 

TARGETCOM LLC

 

TC ACQUISITION INC.

 

THE ARSENAL LLC (formerly
known as Team Holdings LLC)

 

Signature Pages to Second Amendment to Amended and Restated
Credit Agreement

 

    	 

    	 

    

 

TRACK 21 LLC

 

TRADE X PARTNERS LLC

 

UNION ADVERTISING CANADA LP

By: MDC Canada GP Inc.

       Its general partner

 

VARICK MEDIA MANAGEMENT LLC

 

VERITAS COMMUNICATIONS INC.

 

VITRO PARTNERS LLC

 

VITROROBERTSON LLC

 

X CONNECTIONS INC.

 

YAMAMOTO MOSS MACKENZIE, INC.

 

ZYMAN GROUP, LLC

 

	 	By:	 
	 	Name:	 
	 	Title:	Authorized Signatory
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	
        Authorized Signatory

         

 

Signature Pages to Second Amendment to Amended and Restated
Credit Agreement

 

    	 

    	 

    

 

 

	 	WELLS FARGO CAPITAL FINANCE, LLC, formerly known as Wells Fargo Foothill, LLC, as Agent and as a Lender
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	JPMorgan Chase Bank, N.A., as a Lender
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Bank of Montreal, as a Lender
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Goldman Sachs Lending Partners LLC, as a Lender
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	NYCB SPECIALTY FINANCE COMPANY, LLC, as a Lender
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

Signature Pages to Second Amendment to Amended and Restated
Credit Agreement(Form) FINANCIAL-PERFORMANCE BASED

RESTRICTED STOCK GRANT AGREEMENT (2014)

 

THIS AGREEMENT,
made as of February 20, 2014 (the “Grant Date”), between MDC Partners Inc., a Canadian corporation (the
“Corporation”), and _______ (the “Grantee”).

 

WHEREAS, the Corporation
has adopted the 2005 Stock Incentive Plan (the “Plan”) for the purpose of providing employees and consultants
of the Corporation and eligible non-employee directors of the Corporation’s Board of Directors a proprietary interest in
pursuing the long-term growth, profitability and financial success of the Corporation (except as otherwise expressly set forth
herein, capitalized terms used in this Agreement shall have the definitions set forth in the Plan).

 

WHEREAS, the Human
Resources & Compensation Committee (the “Committee”) of the Board of Directors has determined that it is
in the best interests of the Corporation to make the award set forth herein, which award will vest upon achievement by the Corporation
of specified financial growth target during the calendar year 2014 and/or 2015.

 

WHEREAS, pursuant
to the Plan, the Committee has determined to grant an Other Stock-Based Award to the Grantee in the form of shares of Class A subordinate
voting shares, subject to the terms, conditions and limitations provided herein, including achievement of financial performance
targets, and in the Plan (the “Restricted Stock” or “2014 Restricted Stock Award”);

 

NOW, THEREFORE, the
parties hereto agree as follows:

 

1.           Grant of Restricted Stock.

 

1.1          The Corporation
hereby grants to the Grantee, on the terms and conditions set forth in this Agreement, the number of shares of Restricted Stock
set forth under the Grantee's name on the signature page hereto (the “2014 Restricted Stock Award”).

 

1.2          The Grantee's
rights with respect to all the shares of Restricted Stock underlying the 2014 Restricted Stock Award shall not vest and will remain
forfeitable at all times prior to the Vesting Date (as defined below). At any time, reference to the 2014 Restricted Stock Award
shall be deemed to be a reference to the Restricted Shares granted under Section 1.1 that have neither vested nor been forfeited
pursuant to the terms of this Agreement.

 

1.3          This Agreement
shall be construed in accordance with, and subject to, the terms of the Plan (the provisions of which are incorporated herein by
reference).

 

2.            Rights of Grantee.

 

Except as otherwise
provided in this Agreement, the Grantee shall be entitled, at all times on and after the Grant Date, to exercise all rights of
a shareholder with respect to the 2014 Restricted Stock Award, including the right to vote the shares of Restricted Stock. Prior
to the Vesting Date, the Grantee shall not be entitled to transfer, sell, pledge, hypothecate or assign any portion of the 2014
Restricted Stock Award (collectively, the “Transfer Restrictions”).

 

    	 

    	 

    

 

3.           Vesting; Lapse of Restrictions.

 

3.1         The 2014 Restricted
Stock Award shall not vest, and the Transfer Restrictions shall not lapse, unless the Corporation achieves the Performance Measure(s)
on the dates set forth in Section 3.3(a) (the “Vesting Date(s)”), and the Grantee continues to be serving
as an employee of the Corporation on such Vesting Date; provided, that the 2014 Restricted Stock Award shall vest, and the
Transfer Restrictions with respect to all the shares of the 2014 Restricted Stock Award shall lapse, if sooner, on the date of
any one of the following “Permitted Acceleration Events”: (i) the occurrence of a Change in Control (as defined
in the Plan); (ii) the Grantee’s employment is terminated by the Corporation (other than for “cause”), or by
the employee for “good reason” (as each such term may be defined in the Grantee’s underlying employment agreement);
or (iii) the Grantee’s death or disability.

 

3.2         Notwithstanding
anything in this Agreement to the contrary, upon (i) any termination of a Grantee for Cause or (ii) the failure by the Corporation
to achieve the 2014-2015 Performance Measures, the 2014 Restricted Stock Award shall be forfeited and automatically transferred
to and reacquired by the Corporation at no cost to the Corporation, and neither the Grantee nor any heirs, executors, administrators
or successors of such Grantee shall thereafter have any right or interest in such shares of Restricted Stock.

 

3.3          For
purposes of the foregoing, the following terms shall have the following meanings:

 

(a)          “2014-2015
Performance Measures” means the achievement by the Corporation of EBITDA in the following amounts during the specified
Performance Period (as defined in the Plan):

 

(i)          2014
Target. In the event that the Corporation achieves EBITDA for the twelve-months ended December 31, 2014, in an amount equal
to not less than the product of 2013 EBITDA (as defined below) multiplied by 1.05 (the “2014 Target”), then
100% of the 2014 Restricted Stock Award will vest on March 1, 2015.

 

(ii)         2014/2015
Cumulative Target. In the event that the Corporation did not achieve the 2014 Target but achieves EBITDA for the two (2) years
ended December 31, 2015, in an amount equal to not less than the sum of (i) the 2014 Target, plus (ii) the product of the 2014
Target multiplied by 1.10 (such sum, the “2014/2015 Cumulative Target”), then 100% of the 2014 Restricted Stock
Award will vest on March 1, 2016 (but only to the extent not previously vested).

 

(iii)        2014
Restricted Stock Award Limit. In no event shall the Grantee be vested or otherwise entitled to more than one hundred percent
(100%) of the shares of Restricted Stock granted as part of the 2014 Restricted Stock Award pursuant to section 1.1 above.

 

(b)          “Cause”
means the Grantee’s termination by reason of (i) his/her continued or willful failure substantially to perform his/her duties
for the Corporation, (ii) his/her willful and serious misconduct in connection with the performance of his/her duties for the Corporation,
(iii) the Grantee’s conviction of, or entering a plea of guilty to, a crime that constitutes a felony or a crime involving
moral turpitude, (iv) his/her fraudulent or dishonest conduct or (v) his/her material breach of any of his/her obligations or covenants
under any written policies of the Corporation or any written agreement between such Grantee and the Corporation.

 

    	2

    	 

    

 

(c)          “Change
in Control” shall have the meaning set forth in Section 2(b) of the Plan, provided that the reference to “twenty-five
percent (25%) or more of the combined voting power of MDC's then outstanding voting securities” in Section 2(b)(i) of the
Plan shall, for purposes of this 2014 Restricted Stock Award, be amended to read “fifty percent (50%) or more of the combined
voting power of MDC's then outstanding voting securities”; and, provided further, that the reference in Section 2(b)(iii)(A)(III)(3)
to “twenty five percent (25%) or more of the combined voting power of the Surviving Corporation’s voting securities
outstanding immediately following such transaction” shall, for purposes of this 2014 Restricted Stock Award, be amended to
read “fifty percent (50%) or more of the combined voting power of the Surviving Corporation’s voting securities outstanding
immediately following such transaction”.

 

(d)          “Disability”
shall mean a mental or physical condition of the Grantee rendering him unable to perform his/her duties for the Corporation for
a period of six (6) consecutive months or for 180 days within any consecutive 365-day period and which is reasonably expected to
continue indefinitely; provided that if, as of the date of determination, the Grantee is a party to an effective employment
agreement with a different definition of “Disability” or any derivation of such term, the definition of “Disability”
(or its derivation) contained in such employment agreement shall be substituted for the definition set forth above for all purposes
hereunder.

 

(e)          “EBITDA”
shall mean the Corporation’s share of consolidated earnings before
interest, taxes, depreciation and amortization, plus stock-based compensation, acquisition deal costs, deferred acquisition consideration
adjustments, and one time incentive and profit distributions from affiliates.

 

(f)          “2013
EBITDA” shall mean the Corporation’s EBITDA for the year ended December 31, 2013, as determined by the Compensation
Committee following completion of Corporation’s audited financial statements for the year ended December 31, 2013.

 

4.           Escrow
and Delivery of Shares.

 

4.1          Certificates (or
an electronic "book entry" on the books of the Corporation's stock transfer agent) representing the shares of Restricted
Stock shall be issued and held by the Corporation (or its stock transfer agent) in escrow (together with any stock transfer powers
which the Corporation may request of Grantee) and shall remain in the custody of the Corporation (or its stock transfer agent)
until (i) their delivery to the Grantee as set forth in Section 4.2 hereof, or (ii) their forfeiture and transfer to the Corporation
as set forth in Section 3.2 hereof. The appointment of an independent escrow agent shall not be required.

 

4.2          (a)           Certificates (or an electronic "book entry") representing those shares of Restricted Stock in respect of which the
Transfer Restrictions have lapsed pursuant to Section 3.1 hereof shall be delivered to the Grantee as soon as practicable following
the Vesting Date.

 

    	3

    	 

    

 

(b)          The
Grantee, or the executors or administrators of the Grantee's estate, as the case may be, may receive, hold, sell or otherwise dispose
of those shares of Restricted Stock delivered to him or her pursuant to this Section 4.2 free and clear of the Transfer Restrictions,
but subject to compliance with all federal and state securities laws.

 

4.3          (a)          Each stock certificate
issued pursuant to Section 4.1 shall bear a legend in substantially the following form:

 

This
certificate and the shares of stock represented hereby are subject to the terms and conditions applicable to Restricted Stock contained
in the 2005 Stock Incentive Plan (the "Plan") and a Restricted Stock Agreement (the "Agreement") between the
Corporation and the registered owner of the shares represented hereby. Release from such terms and conditions shall be made only
in accordance with the provisions of the Plan(s) and the Agreement, copies of which are on file in the office of the Secretary
of the Corporation.

 

(b)          As soon as practicable following
a Vesting Date, the Corporation shall issue a new certificate (or electronic "book entry") for shares of the Restricted
Stock which have become non-forfeitable in relation to such Vesting Date, which new certificate (or electronic "book entry")
shall not bear the legend set forth in paragraph (a) of this Section 4.3 and shall be delivered in accordance with Section 4.2
hereof.

 

5.           Dividends.
All dividends declared and paid by the Corporation on shares underlying the 2014 Restricted Stock Award shall be deferred until
the lapsing of the Transfer Restrictions pursuant to Section 3.1 and shall be distributed only to the extent the underlying shares
of Restricted Stock vest and are distributed in accordance with Section 3. The deferred dividends shall be held by the Corporation
for the account of the Grantee until the Vesting Date, at which time the dividends, with no interest thereon, shall be paid to
the Grantee or her/his estate, as the case may be. Upon the forfeiture of the shares of Restricted Stock pursuant to Section 3,
any deferred dividends shall also be forfeited to the Corporation.

 

6.           No Right
to Continued Retention. Nothing in this Agreement or the Plan shall be interpreted or construed to confer upon the Grantee
any right with respect to continuance as an employee, nor shall this Agreement or the Plan interfere in any way with the right
of the Corporation to terminate the Grantee's service as an employee at any time.

 

7.           Adjustments
Upon Change in Capitalization. If, by operation of Section 10 of the Plan, the Grantee shall be entitled to new, additional
or different shares of stock or securities of the Corporation or any successor corporation or entity or other property, such new,
additional or different shares or other property shall thereupon be subject to all of the conditions and restrictions which were
applicable to the shares of Restricted Stock immediately prior to the event and/or transaction that gave rise to the operation
of Section 10 of the Plan.

 

    	4

    	 

    

 

8.           Modification
of Agreement; Adjustment of Performance Measures by the Committee. Except as set forth in the Plan and herein, this Agreement
may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument
executed by the parties hereto. Notwithstanding the foregoing, the Committee shall adjust the 2014 Performance Measure in the event
that the Corporation acquires or disposes any material assets or business.

 

9.           Severability.
Should any provision of this Agreement be held by a court of competent jurisdiction to be unenforceable or invalid for any reason,
the remaining provisions of this Agreement shall not be affected by such holding and shall continue in full force and effect in
accordance with their terms.

 

10.         Governing
Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the
State of New York without regard to its conflict of laws principle, except to the extent that the application of New York law would
result in a violation of the Canadian Business Corporation Act.

 

11.         Successors
in Interest. This Agreement shall inure to the benefit of and be binding upon any successor to the Corporation. This Agreement
shall inure to the benefit of the Grantee's heirs, executors, administrators and successors. All obligations imposed upon the Grantee
and all rights granted to the Corporation under this Agreement shall be binding upon the Grantee's heirs, executors, administrators
and successors.

 

	MDC PARTNERS INC.	 
	 	 	 
	By:	                  	 
	Name:   Michael Sabatino	 
	Title:     Chief Accounting Officer	 

 

	MDC PARTNERS INC.	 
	 	 	 
	By:	                	 
	Name:  Mitchell Gendel	 
	Title:    General Counsel	 

 

	GRANTEE:  ___________	 
	 	 	 
	By:	                               	 
	Name:	 

 

Number of Shares of Restricted

Stock Hereby Granted: ______

 

    	5

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