Document:

Exhibit

Exhibit 10(b)

RETIREMENT AGREEMENT AND GENERAL RELEASE
This RETIREMENT AGREEMENT AND GENERAL RELEASE (“Agreement”) is made and entered into by and between Lawrence L. Gellerstedt III (“Gellerstedt”), an individual resident of Georgia, Cousins Employees LLC, a Georgia limited liability company (“CELLC”), Cousins Properties Incorporated (the “CPI”) and Cousins Properties LP, a Delaware limited partnership (“CPLP”), along with the subsidiaries, parents and affiliated entities of any of CELLC, CPI or CPLP, including the successors and assigns of CELLC, CPI, CPLP or any such related entities (collectively, “Company”). 
WITNESSETH
WHEREAS, Gellerstedt is employed with the Company as its Executive Chairman of the Board; 

WHEREAS, Gellerstedt will retire from his employment with the Company and all offices he holds with the Company and its subsidiaries and affiliates effective on April 21, 2020 (the “Retirement Date”); 
WHEREAS, the Company has agreed to provide Gellerstedt with certain payments and benefits to which he would not otherwise be entitled, as provided in this Agreement; and 
WHEREAS, Gellerstedt and the Releasees (as defined below) want to settle fully and finally all differences, disputes and potential disputes between them arising out of Gellerstedt’ employment and retirement from the Company as set forth below; 
NOW, THEREFORE, in consideration of the premises and mutual promises herein contained, it is agreed as follows: 
1.  Retirement.  Gellerstedt will retire and his employment with the Company and any of its subsidiaries and affiliates will cease effective as of the end of the business day on the Retirement Date. 

2.  Consideration.  Provided that Gellerstedt satisfies the conditions of this Agreement (including, without limitation, Sections 6, 7, 8 and 9 below), the Company will provide Gellerstedt the following consideration (the “Consideration”): 
A.  Bonus.  Provided that (i) Gellerstedt has not revoked the release provisions in Section 3 (as provided in Section 2(C) below), Gellerstedt will receive a cash bonus in the amount of $152,000, which will be paid on or about May 11, 2020.
B.  Long-Term Incentive Compensation.  So long as Gellerstedt has not revoked the release provisions in Section 3 (as provided in Section 2(C) below), the Company shall provide the following additional benefits with respect to certain long-term incentive compensation awards granted to Gellerstedt.  Except as specifically changed in this Section 2(B), long-term incentive compensation awards shall be governed by the terms of the applicable award agreement.
(1)    The Company shall accelerate vesting with respect to all shares of restricted stock (“Restricted Stock”) issued to Gellerstedt under the Company’s 2009 Incentive Stock Plan (the “2009 Plan”), so that all such shares will vest on May 12, 2020 and will be promptly thereafter issued to Gellerstedt, less applicable tax withholding.
(2) With respect to restricted stock units (“Restricted Stock Units”) issued to Gellerstedt under the Company’s 2005 Restricted Stock Unit Plan (“RSU Plan”), because Gellerstedt has attained Retirement (as defined in the Restricted Stock Units award agreements), Gellerstedt will be deemed to have satisfied any requirement of continued employment, but such Restricted Stock Units will vest and/or become payable only if the Company meets the applicable performance goals.  The number of vested Restricted Stock Units will be determined based upon the Company’s performance relative to the performance goals as set forth in the applicable award agreement, and will be paid to Gellerstedt, less applicable tax withholding, at the same time such Restricted Stock Units are paid to other executives. 
(3) With respect to the Stock Options issued to Gellerstedt under the Company’s 2009 Plan, the strike price and the expiration of February 14, 2021 shall remain unaffected by this Agreement. The terms and conditions of the exercise of such Stock Options, if any, shall be governed by the terms of the award agreements.
This Section 2(B) will amend and supersede any terms of the agreements related to the Restricted Stock which conflict with this Section 2(B) and, except as provided in this Section 2(B), such agreements shall continue in full force and effect.
C.  Release Revocation Right.  Gellerstedt will have 21 days to consider the release provisions set forth in Section 3 below and 7 days following the execution of this Agreement to revoke such release.  The parties agree that the Company will be relieved 

Exhibit 10(b)

of its obligations under Sections 2(A) and 2(B)(1) if the release is revoked during any applicable revocation period. Notwithstanding anything to the contrary set forth herein, in no event will the Company’s obligations with respect to the Restricted Stock Units or Stock Options be affected by any such timely revocation.
D. Information Regarding Accrued Base Salary and PTO.  Regular wages earned through the Retirement Date will be paid to Gellerstedt on the next regularly occurring payroll of Company. Any adjustments as well as accrued, unused Paid Time Off (“PTO”) will be paid not later than the third regularly occurring payroll of Company after the Retirement Date. Notwithstanding anything to the contrary set forth herein, the Company acknowledges and agrees that Gellerstedt’ eligibility for accrued but unpaid base salary and PTO described in this Section 2(D) shall in no way be conditioned upon the execution of this Agreement or the non-revocation of the release in Section 3.
E. Benefit Information.  Gellerstedt’ Company-sponsored plan benefits will end on the last day of the month in which the Separation Date occurs.  Under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), Gellerstedt may be eligible to continue his health insurance coverage at group rates for up to 18 months.  The Company will reimburse Gellerstedt (subject to applicable tax withholding) for amounts expended by Gellerstedt to purchase (via COBRA) for himself and his spouse through the Company’s health plan for the period that begins on the Retirement Date and ends on the earlier of (i) the date Gellerstedt becomes employed with an employer with whom Gellerstedt is eligible for health insurance benefits provided through that employer, or (ii) March 31, 2021. Gellerstedt will tender reasonable and satisfactory proof of such expenditures, if any, to the Company within thirty (30) days of such expenditure, and the Company will reimburse Gellerstedt for such expenses within thirty (30) days of receipt of such proof. Gellerstedt also agrees to inform he Company of his becoming employed with an employer with whom Gellerstedt is eligible for health insurance benefits provided through that employer, promptly upon beginning such employment.  Notwithstanding anything to the contrary set forth herein, the Company acknowledges and agrees that Gellerstedt’ eligibility for COBRA benefits shall in no way be conditioned upon the execution of this Agreement or the non-revocation of the release in Section 3; provided, however, that a timely revocation of such release shall also relieve the Company of the obligation to reimburse Gellerstedt for any COBRA payments actually made by him.
F. Acknowledgements.  Gellerstedt acknowledges and agrees that the Consideration encompasses and is in lieu of and in full satisfaction of any and all other payments which Gellerstedt is owed, is potentially owed, or claims to be owed to him by the Company, regardless of where arising (except for any benefits owed, under the written terms of the Company’s benefit plans, through the Retirement Date or as otherwise specifically stated herein, base salary accrued through the Retirement Date, expenses incurred but unpaid up to the Retirement Date that are reimbursable in accordance with Company policy, rights under any outstanding Stock Option Agreements, rights to indemnification that Gellerstedt may have under the Company’s articles of incorporation, bylaws, and the Indemnification Agreement dated June 19, 2007, and any coverage that Gellerstedt may have under any liability policy covering officers and directors) as of the Retirement Date including, without limitation, any other salary, severance, benefits, bonuses, deferred compensation, incentive compensation or equity compensation.  For the avoidance of doubt, there shall be no benefits paid by the Company of any sort with respect to any of the Consideration, except as noted in this Section 2. 
3.  Release and Covenant Not to Sue. 
A.  Gellerstedt General Release.  As a material inducement of the Company to enter into this Agreement, Gellerstedt hereby irrevocably and unconditionally releases, acquits, and forever discharges the Company and the Company’s former and current employees, partners, members, managers, supervisors, attorneys, investors, agents, officers, directors, and affiliates, including parent companies, subsidiaries, benefit plans and divisions (collectively, with the Company, the “Releasees”), (except as to the Consideration and any benefits owed, under the written terms of the Company’s benefit plans, through the Retirement Date or as otherwise specifically stated herein, base salary accrued through the Retirement Date, expenses incurred but unpaid up to the Retirement Date that are reimbursable in accordance with Company policy, rights to indemnification that Gellerstedt may have under the Company’s articles of incorporation, bylaws, and the Indemnification Agreement dated June 19, 2007, and any coverage that Gellerstedt may have under any liability policy covering officers and directors) from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs actually incurred) of any nature whatsoever, known or unknown, suspected or unsuspected, fixed or contingent, including, but not limited to, any claims for compensatory damages, special damages, punitive damages, or any other form of compensation from the Releasees or any of them, or based upon any contract, covenant of good faith and fair dealing, or any tort, or any federal, state, or other governmental statute, regulation, ordinance or common law, including, without limitation claims for unpaid wages, vacation pay, or other fringe benefits; breach of any covenant of good faith and fair dealing; breach of an express or implied contract; violation of any other legal, equitable or contractual duty arising under the laws of any state or locality, or the laws of the United States, including, without limitation, Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. § 2000e, et seq.; 42 U.S.C. § 1981; Executive Order 11246, 30 Fed. Reg. 12319; 42 U.S.C. § 1985(3); the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701, et seq.; the Americans with Disabilities Act, 42 U.S.C. 

Exhibit 10(b)

§ 12101, et seq.; the Family and Medical Leave Act, 29 U.S.C. § 2601, et seq.; the Employment Retirement Income Security Act of 1974, as amended, 29 U.S.C. § 1001, et seq.; and the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1514A, et seq., which Gellerstedt now has, owns or holds, or claims to have, own or hold, which Gellerstedt at any time heretofore had, owned or held, or claimed to have, against each or any of the Releasees, including claims arising under any other agreement or plan whatsoever, whether oral or written, with respect to matters up to the time Gellerstedt signs this Agreement; provided, however, that Gellerstedt does not release any claims for which releases are prohibited by law.  Gellerstedt represents, acknowledges and agrees that he has been provided with all leave to which he may have been entitled under the Family and Medical Leave Act.  Gellerstedt hereby covenants and agrees, to the fullest extent permitted by law, not to sue, file any grievance, complaint or arbitration, commence, or permit to be commenced or filed, any litigation, administrative charge, or other proceeding against any of the Releasees as described herein, with respect to any matter whatsoever, including, but not limited to, any matter arising from or relating to the terms and conditions of his employment with the Company, the termination of his employment with the Company, and any other actions taken by the Company concerning Gellerstedt up to the time of the Retirement Date, except as otherwise provided in this Section 3(A).  
B.  Release of Claims under the ADEA.  In addition to the foregoing, Gellerstedt hereby knowingly and voluntarily releases and discharges the Releasees, collectively, separately and severally, from and for any and all liability, claims, allegations, and causes of action arising under the Age Discrimination in Employment Act of 1967, as amended (“ADEA”), which he and/or his heirs, administrators, executors, personal representatives, beneficiaries, and assigns may have or claim to have against the Releasees.  Notwithstanding any other provision or section of this Agreement, Gellerstedt does not hereby waive any rights or claims under the ADEA that may arise after the date on which the Agreement is signed by him. 
C.  Protected Rights.  Nothing contained in this Agreement limits Gellerstedt’ ability to file a charge or complaint with the Equal Employment Opportunity Commission, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the National Labor Relations Board, the Department of Labor, the Occupational Safety and Health Administration, or any other self-regulatory organization or federal, state or local governmental agency or commission (collectively, “Government Agencies”), or prevents Gellerstedt from providing truthful testimony in response to a lawfully issued subpoena or court order or from making other disclosure that are protected under the whistleblower provisions of federal, state or local law or regulation. Gellerstedt understands and acknowledges that he does not need the prior authorization of the Company to make any such reports or disclosures and that he is not required to notify the Company that he has made such reports or disclosures.  Further, this Agreement does not limit Gellerstedt’ ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company. Notwithstanding the foregoing, the consideration provided to Gellerstedt under this Agreement shall be the sole relief provided directly by the Company to Gellerstedt for the claims released herein and Gellerstedt will not be entitled to recover, and hereby waives, any monetary recovery directly from the Company in connection with any such charge or proceeding. Further notwithstanding the foregoing, this Agreement does not limit Gellerstedt’ right to receive an award from any Government Agency in connection with information provided to any Government Agencies.
         D.  Company General Release.  In consideration of this Agreement, the Company hereby forever waives, releases and discharges Gellerstedt from any and all liability, actions, claims demands of lawsuits in law or in equity which the Company may have had, presently has , or in the future may have, against Gellerstedt by reason of any act, omission, transaction or event from the beginning of time, including but not limited to those arising out of or relating to Gellerstedt’ employment with the Company, provided, however, that the Company is not releasing Gellerstedt from any claims arising from the facts or circumstances which Gellerstedt has concealed from the Company or from any claims arising from any criminal or fraudulent acts or omissions by Gellerstedt (collectively, the “Unreleased Company Claims”). Further, Gellerstedt acknowledges and agrees that the Company has not released and is not releasing any claims under the  Company’s incentive-based compensation recoupment policy (sometimes commonly referred to as a “clawback” policy, as described in the Company’s various Proxy filings); provided, however, that the Company shall only enforce such policy against Gellerstedt in a non-discriminatory manner, reasonably taking into account the circumstances giving rise to the financial restatement triggering the enforcement of such policy. This release, waiver and discharge applies to any and all claims against Gellerstedt, known or unknown, arising under contract or under federal, state or local statutory or common (including civil tort) law, which have been asserted or which could have been asserted to the maximum extent permitted by law, without limitation or exception, other than for the Unreleased Company Claims, for breach of this Agreement, and for implementation of the clawback policy. It is expressly understood and agreed by the parties that this Agreement is in full accord, satisfaction, and discharge of any and all doubtful or disputed claims by the Company against Gellerstedt (expressly excluding the Unreleased Company Claims, claims for breach of this Agreement and any implementation of the clawback policy), and this Agreement has been signed with the express intent of extinguishing all other claims, obligations, actions or causes of action as herein described.
E.    Consultation Opportunity Acknowledgment. Gellerstedt hereby acknowledges and represents that (i) he has been given a period of at least twenty-one (21) days to consider the terms of this Agreement, (ii) the Company has advised (or hereby advises) Gellerstedt in writing to consult with an attorney prior to executing this Agreement, and (iii) Gellerstedt has received valuable and 

Exhibit 10(b)

good consideration to which he is otherwise not entitled in exchange for his execution of this Agreement.  Gellerstedt and the Company acknowledge and agree that any revisions made to this Agreement after it was initially delivered to Gellerstedt were either not material or were requested by Gellerstedt , and expressly agree that such changes do not re-start the 21-day consideration period described above. 
The parties hereby acknowledge this Agreement shall not become effective or enforceable until the eighth (8th) day after it is executed by Gellerstedt (the “Effective Date”) and that Gellerstedt may revoke this Agreement at any time before the Effective Date. 
In the event Gellerstedt revokes, he shall notify the Company in writing to its designated agent for this purpose no later than the last day of the revocation period.  Such notice shall be delivered to the Company by national overnight delivery service such as Federal Express or United Parcel Service, the receipt of which shall be tracked by the delivery service, and addressed as follows: 
Cousins Properties Incorporated
3344 Peachtree Road NE, Suite 1800
Atlanta, Georgia 30326
Attn: General Counsel

4.  Denial of Liability or Wrongful Conduct.  This Agreement shall not in any way be construed as an admission by the Company that it has acted wrongfully in any way.  This Agreement shall not in any way be construed as an admission by Gellerstedt that he has acted wrongfully in any way.
5.  No Pending Claims.  Gellerstedt represents that he has not filed, nor assigned to others the right to file, nor are there pending any complaints, charges or lawsuits against the Releasees with any governmental agency or any court, and that Gellerstedt shall not file any claims against the Releasees with any governmental agency or any court at any time hereafter for actions taken up to and including the Retirement Date with respect to matters released by this Agreement.  Gellerstedt agrees that he will not seek or be entitled to any personal or representative monetary recovery in any proceeding of any nature arising out of any of the matters released above. 
6.  Non-Disparagement.  Except as otherwise required by law, Gellerstedt acknowledges and agrees that, for a period beginning upon execution of this Agreement and for three (3) years following the Retirement Date, he shall not make any statement, written or verbal, to any person or entity, including in any forum or media, or take any action, in disparagement of the Company or any of the other Releasees, including, but not limited to, negative references to the Company’s or a Releasee’s services, policy, partners, directors, officers, managers, members, or employees, or take any other action that may disparage the Company or a Releasee to the general public and/or the Company’s or Releasee’s employees, clients, suppliers, and/or business partners.  The Company agrees that it shall direct the members of its Board of Directors and its executive officers that they shall not for a period of three (3) years following the Retirement Date make any statement, written or verbal, to any person or entity, including in any forum or media, or take any action, in disparagement of Gellerstedt, including, but not limited to, negative references to Gellerstedt’ services, or take any other action that may disparage Gellerstedt to the general public or his future employer, clients, suppliers, and/or business partners.  All requests for references or other information from Gellerstedt’ prospective employers shall be directed by Gellerstedt to the Company’s head human resources officer, who shall advise that the Company policy is not to provide references and shall confirm only Gellerstedt’ positions, dates of employment, and compensation with the Company. 
7.  Nondisclosure and Non-Solicitation. 
A.  Confidentiality.  Gellerstedt agrees to and shall hold in confidence all Trade Secrets and all Confidential Information (each as defined below) and will not, either directly or indirectly, use, sell, lend, lease, distribute, license, give, transfer, assign, show, disclose, disseminate, reproduce, copy, appropriate, or otherwise communicate any Trade Secrets or Confidential Information to any person or entity, without the prior written consent of the Company.  Gellerstedt’ obligation of non-disclosure as set forth herein with regard to each item constituting all or any portion of a Trade Secret shall continue for so long as such item continues to constitute a Trade Secret or Confidential Information, as the case may be. 
“Confidential Information” means data or other information relating to the business of the Company or a Releasee (other than Trade Secrets) that is or has been disclosed to Gellerstedt or of which Gellerstedt became aware as a consequence of or through Gellerstedt’ relationship with the Company or a Releasee and which has value to the Company or a Releasee, is not generally known to the Company’s or the Releasee’s competitors (as applicable).  Confidential Information shall not include any data or information that has been voluntarily disclosed to the public by the Company or a Releasee (except where such public disclosure has been made by Gellerstedt without authorization) or that has been independently developed and disclosed by others, or that otherwise enters the public domain through lawful means. 

Exhibit 10(b)

“Trade Secrets” means information protectable as a trade secret under applicable law, including, without limitation, and without regard to form: technical or non-technical data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans, or a list of actual or potential customers or suppliers which is not commonly known by or available to the public and which information derives economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use; and is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.  For purposes of this Agreement, the term Trade Secret shall not include data or information that has been voluntarily disclosed to the public by the Company or a Releasee (except where such public disclosure has been made by Gellerstedt without authorization) or that has been independently developed and disclosed by others, or that otherwise enters the public domain through lawful means. 
B.  Defend Trade Secrets Act.  Gellerstedt is hereby notified that under the Defend Trade Secrets Act: (i) no individual will be held criminally or civilly liable under federal or state trade secret law for disclosure of a trade secret (as defined in the Economic Espionage Act) that is (x) made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and made solely for the purpose of reporting or investigating a suspected violation of law; or (y) made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public; and (ii) an individual who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal, and does not disclose the trade secret, except as permitted by court order.
C.  Non-Solicitation of Employees. Gellerstedt covenants and agrees that for a period of twelve (12) months following the Retirement Date, Gellerstedt will not, directly or indirectly, solicit or encourage the solicitation or hiring of any person who was an employee of the Company at the Retirement Date and who continues to be an employee of the Company at, or was an employee within six (6) months before, the date of such solicitation, with whom Gellerstedt had material contact, by any employer other than the Company for any position as an employee, independent contractor, consultant or otherwise; provided that this covenant shall not apply to any employee (i) the solicitation of whom is approved by the Chief Executive Officer of the Company (such approval to be made in his or her sole discretion and may be withheld for any or no reason), (ii) who responds to any public advertisement or (iii) whose employment with the Company terminated, whether voluntarily or involuntarily, prior to any discussion with Gellerstedt regarding such matters. 
C.  Acknowledgements.  Gellerstedt acknowledges and agrees that Gellerstedt’ obligations under this Section 7 are reasonable and necessary to protect the legitimate business interests of the Company and that any claim or cause of action by Gellerstedt against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company or any other adversely affected Releasee of the covenants and promises in this Section 7. 
D.  Reformation.  In the event that any of the covenants in this Section 7 is found by a court of competent jurisdiction to be overly broad or otherwise unenforceable as written, the parties request the court to modify or reform any such covenant to allow it to be enforced to the maximum extent permitted by law and to enforce the covenant as so modified or reformed. 
8.  Cooperation.  Gellerstedt acknowledges and agrees that he will reasonably cooperate with the Company in any pending or future matters, including without limitation any litigation, investigation, or other dispute, in which Gellerstedt, by virtue of Gellerstedt’ employment with the Company, has relevant knowledge or information, without any further compensation other than what is provided in this Agreement; provided, however, and notwithstanding the foregoing, the Company shall compensate Gellerstedt for the reasonable value of the time required for such cooperation, and shall reimburse Gellerstedt for any reasonable travel and out-of-pocket expenses incurred in providing cooperation at its request, the purpose of which reimbursement is to avoid cost to Gellerstedt and not to influence Gellerstedt’ cooperation.
9.  Return of Company Property.  On or prior to the Retirement Date, Gellerstedt will return to the Company all of the Company’s property, including, but not limited to, keys, passcards, credit cards, computers and related equipment, cell phones, vendor or customer lists, rolodexes, tapes, software, computer files, marketing and sales materials, and any other record, data, document or piece of equipment belonging to the Company.  Gellerstedt agrees not to retain any copies of the Company’s property, including any copies existing in electronic form, which are in Gellerstedt’ possession or control.  Gellerstedt acknowledges that he has not and will not destroy, delete, or alter any Company property without the Company’s written consent.  This Section shall not be construed to relate to any of Gellerstedt’ personal information which may be stored on the Company’s computer that he used before the Retirement Date or personal information that he had at the Company’s offices before the Retirement Date. 
10.  Modification.  No provision of this Agreement may be changed, altered, modified or waived except in writing signed by Gellerstedt and an authorized representative of the Company’s Board of Directors, which writing shall specifically reference this Agreement and the provisions which the parties intend to waive or modify. 

Exhibit 10(b)

11.  Voluntary Agreement/Consultation with Counsel.  Gellerstedt acknowledges the following: (a) he has read and fully understands the terms of this Agreement; (b) he has agreed to this Agreement knowingly and voluntarily and was not subjected to any undue influence in agreeing to its terms; (c) has been (or is hereby) advised by the Company in writing that he may discuss this Agreement with his personal attorney, and has had an opportunity to do so; and (d) has been given a reasonable time (of at least 21 days) to consider whether he should enter into this Agreement. 
12.  Attorneys’ Fees and Costs.  If either party brings a claim released or waived by or otherwise relating to this Agreement, or breaches any provision hereof, such party will pay the reasonable attorneys’ fees that are actually incurred by the prevailing party, in addition to any other damages or relief a court may award. 
13.  Entire Agreement.  Except as expressly provided herein, this Agreement constitutes and contains the entire agreement and final understanding concerning Gellerstedt’ relationship with the Company and the other subject matters addressed herein between the parties, and supersedes and replaces all prior negotiations and all other agreements proposed or otherwise, whether written or oral, concerning the subject matter hereof.  Any representation, promise or agreement not specifically included in this Agreement shall not be binding upon or enforceable against either party.  Notwithstanding the foregoing, the Indemnification Agreement between the Company and Gellerstedt, dated as of June 19, 2007 and any certificates of awards issued to Gellerstedt under the 1999 Incentive Stock Plan, the 2009 Plan and the RSU Plan shall survive in accordance with their respective terms.  For further clarity, each of the foregoing expressly survive and remain in full force and effect, and do not merge into this Agreement.  For the avoidance of doubt, the Change in Control Severance Agreement between the Company and Gellerstedt, as amended, is terminated as of April 21, 2020.
14.  Applicable Law.  This Agreement has been entered into in and shall be governed by and construed under the laws of the State of Georgia, notwithstanding its provisions governing choice of law.  Gellerstedt acknowledges and agrees that he was employed by the Company in Georgia.  Subject to Section 19 below, any action to enforce any provision of this Agreement shall be brought exclusively in the appropriate state or federal court in the State of Georgia. 
15.  Severability.  The provisions of this Agreement are severable, and if any part of it is found to be unenforceable, the other paragraphs shall remain fully valid and enforceable.  This Agreement shall survive the termination of any arrangements contained herein. 
16.  Headings and Captions.  The headings and captions used in this Agreement are for convenience of reference only, and shall in no way define, limit, expand or otherwise affect the meaning or construction of any provision of this Agreement. 
17.  Construction.  In the event that an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 
18.  Injunctive Relief/Obligations.  Gellerstedt acknowledges and agrees that the remedy at law for any breach of Sections 6, 7, 8 or 9 hereof will be inadequate and that in the event of such breach, the Company and/or the Releasees will suffer irreparable damage.  Accordingly, in addition to all other remedies available, the Company and any other adversely affected Releasee will therefore be entitled, in aid of any arbitration conducted pursuant to Section 19 hereof, to temporary, preliminary or permanent injunctive relief from a court enjoining said breach or threatened breach without having to post a bond or other security.  The existence of any claim, demand, action or cause of action of Gellerstedt against any Releasee shall not constitute a defense to the enforcement by the Company or any Releasee of any of the covenants or agreements herein.  The existence of any claim, demand, action or cause of action of the Company or any Releasee shall not constitute a defense to the enforcement by Gellerstedt of any of the covenants or agreements herein. 
19.  Arbitration.  Except as provided in Section 18 and below, any disputes or claims of any kind or nature, including the arbitrability of claims under this Agreement, between Gellerstedt and the Company for any reason whatsoever, shall be settled by final and binding arbitration in Atlanta, Georgia under the Federal Arbitration Act.  The parties expressly agree that this Agreement involves interstate commerce and shall be governed by the provisions of the Federal Arbitration Act, 9 U.S.C. § 1 et seq., to the exclusion of any different or inconsistent state or local law, ordinance or judicial rule. Any disputes concerning the interpretation or the enforceability of this Agreement, including without limitation its revocability or voidability for any cause, the scope of arbitrable issues, and any defense based upon waiver, estoppel, or laches, shall be decided by the arbitrator.
Prior to filing a demand for arbitration, the party seeking arbitration shall serve upon the other party written notice of an intent to arbitrate hereunder listing the claims to be arbitrated.  Thereafter, the parties shall, for a period of two weeks, first attempt in good faith to resolve any such claim through informal negotiation.  If the claim is not resolved, the arbitration shall be administered by an arbitration agency mutually agreeable to Gellerstedt and the Company, before an arbitrator mutually agreeable to Gellerstedt 

Exhibit 10(b)

and the Company.  Should the Company and Gellerstedt be unable to mutually agree upon an arbitration agency or an arbitrator within four weeks of either party’s written notice of intent to arbitrate hereunder, or within two weeks from the time any court or other judicial body orders arbitration, the arbitration shall be administered by the American Arbitration Association before an arbitrator mutually agreeable to Gellerstedt and the Company.  If Gellerstedt and the Company are thereafter unable to agree upon an arbitrator, the arbitrator shall be selected in accordance with the rules of the American Arbitration Association. 
Upon the request of either party, the arbitrator’s award shall include findings of fact and conclusions of law.  Discovery in the arbitration by or to each party shall presumptively be limited to five depositions (including experts), twenty-five interrogatories (including subparts), and thirty document requests (including subparts).  In considering the relevancy, materiality, and admissibility of evidence, the arbitrator shall take into account, among other things, applicable principles of legal privilege, including the attorney-client privilege, the work product doctrine, the self-evaluative privilege, and appropriate protection of the Company’s Trade Secrets, personnel records, and other Confidential Information or proprietary information.  Any arbitration of any claim by Gellerstedt pursuant to this Agreement may not be joined or consolidated with any other arbitration(s) by or against the Company, including through any class arbitration.  Any arbitration of any claim by the Company pursuant to this Agreement may not be joined or consolidated with any other arbitration(s) by or against Gellerstedt . Notwithstanding any other provision of this Agreement, either party may seek temporary, preliminary, or permanent injunctive relief to aid and give effect to the arbitration required by this Section.  If any provision of this Section is found to be invalid or unenforceable, such provision shall be severed or modified as necessary to permit this Section to be upheld and enforced to the maximum extent permitted by law. 
20.  Notice.  All notices or other communications which are required or permitted hereunder shall be in writing and sufficient if delivered personally or sent by registered or certified mail, postage prepaid, return receipt requested, or sent by overnight courier, addressed as follows: 
To the Company:    Cousins Properties Incorporated
3344 Peachtree Rd
Suite 1800
Atlanta, Georgia 30326
Attn: General Counsel

To Gellerstedt:    Mr. Lawrence L. Gellerstedt, III
12 Chatham Road
Atlanta, Georgia 30305

21. Intentionally Omitted.
22.  409A.  The parties to this Agreement intend that all payments and benefits under this Agreement be exempt from or comply with section 409A of the Internal Revenue Code of 1986, as amended. 

Exhibit 10(b)

GELLERSTEDT ATTESTS THAT HE HAS READ THIS AGREEMENT CAREFULLY AND UNDERSTANDS THAT THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS THAT GELLERSTEDT MAY HAVE AGAINST THE COMPANY. 

Date:                    
Lawrence L. Gellerstedt, III                    

COUSINS PROPERTIES INCORPORATED
COUSINS EMPLOYEES LLC
COUSINS PROPERTIES LP

By:                                        Date:                                    
Pamela F. Roper
EVP & General CounselEX-4.28

Table of Contents

 Exhibit 4.28 

SERVICE AGREEMENT 
 1 OCTOBER 2019

 WPP 2005 LIMITED 
 and 

JOHN ROGERS 

Table of Contents

 CONTENTS 

 

							
	Clause	 		  	 	Page	 
			
	1.	 	Interpretation	  	 	3	 
	2.	 	Commencement of Appointment	  	 	4	 
	3.	 	Executive’s Duties	  	 	4	 
	4.	 	Place of Work	  	 	5	 
	5.	 	Working Hours	  	 	5	 
	6.	 	Remuneration	  	 	5	 
	7.	 	Expenses	  	 	6	 
	8.	 	Pensions	  	 	6	 
	9.	 	Insurances	  	 	7	 
	10.	 	Sickness Absence	  	 	8	 
	11.	 	Holidays	  	 	8	 
	12.	 	Other Interests	  	 	8	 
	13.	 	Confidential Information	  	 	9	 
	14.	 	Intellectual Property	  	 	10	 
	15.	 	Termination of Employment	  	 	12	 
	16.	 	Garden Leave	  	 	14	 
	17.	 	Office as a Director	  	 	14	 
	18.	 	Protective Covenants	  	 	15	 
	19.	 	Data Protection	  	 	15	 
	20.	 	Grievance and Disciplinary Procedure	  	 	15	 
	21.	 	Collective Agreements	  	 	16	 
	22.	 	General	  	 	16	 
		
	 Signatories 
	  	 	16	 
		
	Schedule	  			
			
	1.	 	Power of Attorney	  	 	17	 
	2.	 	Incentive Plans	  	 	18	 
	3.	 	Protective Covenants	  	 	21	 

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 THIS AGREEMENT is made on 1 October 2019 

BETWEEN: 
  

	(1)	 WPP 2005 LIMITED (registered number 01003653) whose registered office is at Sea Containers, 19 Upper Ground,
London SE1 9GL (the Company) 

  

	(2)	 JOHN ROGERS (the Executive). 

IT IS AGREED as follows: 
  

	1.	 INTERPRETATION 

  

	1.1	 In this Agreement: 

Appointment means the employment of the Executive by the Company on and subject to the terms of this Agreement; 

Board means the board of directors of the Company or any committee of the board duly appointed for the purpose in question, from
time to time; 
 Financial Year means the Company’s financial year ending on 31 December each year; 

Group means the Company, any holding company of the Company, and any holding company of the holding company from time to time,
together with any subsidiary of the Company or its holding company or the holding company of its holding company, and Group Company means any one of them; 

holding company and subsidiary shall, as the context so permits, have the meaning given by section 1159 of the Companies
Act 2006 or under relevant applicable laws in Jersey; 
 Recognised Investment Exchange means a relevant EEA market as defined
in, or a market established under, the rules of any investment exchange specified in schedule 3 to the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005; 

Compensation Committee means the committee of non-executive directors as appointed by the
Board of WPP plc from time to time for the purposes of determining the Company’s policy on executive remuneration; 

Termination Date means the date on which the Appointment terminates for whatever reason; and 

UK Listing Authority means the FCA, acting in its capacity as the competent authority for the purposes of part VI of the
Financial Services and Markets Act 2000. 
  

	1.2	 A reference to a particular law is a reference to it as it is in force for the time being, taking account of any
amendment, extension or re-enactment, and includes any subordinate legislation for the time being in force made under it. 

 

	1.3	 The headings in this Agreement are for convenience only and do not affect its interpretation. 

  
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	2.	 COMMENCEMENT OF APPOINTMENT 

 

	2.1	 The Appointment will begin on 27 January 2020 or such other date as the parties shall agree and when the
Executive is not subject to any restrictions to prevent the commencement of his employment with the Company. There is no period of previous employment with the Company. 

 

	2.2	 The Appointment may be terminated in accordance with clause 15 (or in furtherance of any right either party may have
at common law). 

  

	3.	 EXECUTIVE’S DUTIES 

 

	3.1	 The Executive shall serve the Company as Chief Financial Officer and as an Executive Director of WPP plc, and/or in
such other capacity or capacities, within the Group as the Company may reasonably require from time to time, but subject always to it being consistent with his status, skills and experience. 

 

	3.2	 During the Appointment the Executive shall: 

 

	 	(a)	 diligently exercise such powers and perform such duties as may from time to time be assigned to him by the Board of
WPP plc; 

  

	 	(b)	 accept any offices or directorships as reasonably required by the Company; 

 

	 	(c)	 use his best endeavours to promote, protect, develop and extend the business of the Company and any Group Company;

  

	 	(d)	 comply with all reasonable and lawful directions given to him by the Board of WPP plc; 

 

	 	(e)	 comply with all policies and procedures of the Company and/or the Group. The Executive’s attention is drawn, in
particular, but without limitation, to the Company’s data protection, anti-bribery and corruption and expenses policies and the WPP Code of Conduct; 

  

	 	(f)	 comply with all requirements, recommendations or regulations of any regulatory authority which is relevant to the
Executive’s role and/or to the Company or any relevant Group Company; 

  

	 	(g)	 promptly make such reports to the Board of WPP plc in connection with the affairs of the Company or any Group Company
on such matters and at such times as are reasonably required; 

  

	 	(h)	 report to the Board of WPP plc his own wrongdoing and any wrongdoing or proposed wrongdoing of any other employee who
reports to him or a director of the Company or any Group Company, to the extent he has first-hand knowledge of such wrongdoing or proposed wrongdoing by such employee or director, promptly on becoming aware of it; 

 

	 	(i)	 comply with the articles of association (as amended from time to time) of any Group Company of which he is a director;

  

	 	(j)	 abide by all statutory, fiduciary or common law duties to the Company or any Group Company of which he is a director;

  

	 	(k)	 do such things as are necessary to ensure compliance by himself and the Company or any relevant Group Company with the
UK Corporate Governance Code of the UK Listing Authority (as amended from time to time); 

  
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	 	(l)	 comply with all requirements, recommendations or regulations, as amended from time to time, of the UK Listing
Authority, the Market Abuse Regulation (596/2014/EU), the FCA and all other regulatory authorities relevant to the Company or any Group Company and any code of practice issued by the Company (as amended from time to time) relating to dealing in the
securities of the Company or any Group Company; and 

  

	 	(m)	 comply with the requirements under both legislation and regulations on insider dealing. 

 

	4.	 PLACE OF WORK 

  

	4.1	 The Executive’s normal place of work shall be the Company’s head office in the UK from time to time as the
Company may reasonably determine, for the proper performance of his duties. The Executive shall travel to such places (inside and) outside the UK as may be required in order to properly perform his duties, in particular, to the head office in the
USA. In connection therewith, the Executive is likely from time to time to be required to work outside the UK for periods exceeding one month. 

  

	4.2	 There are currently no additional terms which apply where the Executive is required to work outside the UK for a
period exceeding one month, but the Company reserves the right to issue such terms, and any such terms will be notified to the Executive. 

  

	5.	 WORKING HOURS 

  

	5.1	 The parties agree that the Executive’s role and senior status are such that the Executive will determine the
whole of his working time himself and his working time cannot be measured or pre-determined and, accordingly, that the Appointment falls within the scope of Regulation 20 of the Working Time Regulations 1998,
meaning that the restrictions on working time set out in the Working Time Regulations do not apply to him. 

  

	5.2	 During the Appointment, unless prevented by ill-health or accident and except
during holiday taken in accordance with clause 11, the Executive shall devote the whole of his time, skill and attention during normal business hours, and at such other times as may be reasonably necessary (without additional remuneration), to his
duties under this Agreement. 

  

	6.	 REMUNERATION 

  

	6.1	 The Company will pay the Executive a salary of £740,000 and a fixed benefits allowance of £30,000 per
annum. The salary (and so far, as is reasonably possible) the benefits allowance will accrue from day to day and be payable in equal instalments in arrears on or around the 25th day of every month, less deductions for income tax and National
Insurance contributions and shall be inclusive of any fees receivable by the Executive as a director of any Group Company. 

  

	6.2	 The Executive’s salary will be reviewed by the Compensation Committee every two years. There will be no salary
review after notice to terminate this Agreement has been given by either party. The Company has no obligation to increase the Executive’s salary following a review. 

 

	6.3	 The Executive will be eligible to participate in any bonus or discretionary remuneration plan on such terms as the
Compensation Committee may from time to time decide and always subject to the terms of the Executive Remuneration policy as approved by shareholders of WPP plc and to additional terms and conditions including the malus and clawback provisions of all
relevant share or stock plans and as referred to in Schedule 2. 

  

	6.4	 Any bonus payment to the Executive shall be purely discretionary and shall not form part of the Executive’s
contractual remuneration under this Agreement. Payment of a bonus to the Executive in 

  
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one year shall confer no right on the Executive to receive a bonus in any other year. Specifically, but without limitation, the Executive shall have no right to be considered for, or payment of,
a bonus where the Executive is subject to, or may about to be subject to, an ongoing investigation or disciplinary process into facts or matters which could lead to such bonus being forfeited, or reduced and in all events if the Appointment has
terminated for any reason or if he is under notice of termination whether given by the Executive or the Company at or prior to the date when a bonus might otherwise have been payable. For the avoidance of doubt, if the Executive is exonerated of any
of the allegations made during any such disciplinary process or if any investigation does not result in any material action against the Executive, he will (once the disciplinary process or investigation is concluded) have the right to be considered
for a bonus as if there had been no such investigation or disciplinary process. If any bonus becomes payable in such circumstances it will be paid without delay following the conclusion of the disciplinary process or investigation.

  

	6.5	 The Executive hereby irrevocably consents to the Company, at any time during the Appointment or on its termination
(however arising), deducting from salary or any other payments due to the Executive in respect of the Appointment any monies due from him to the Company or any Group Company. 

 

	6.6	 The Executive agrees that every benefit arising out of or in connection with his employment whilst he remains a
director is subject to change (including detrimental change without compensation) where any particular benefit paid, or otherwise owing or becoming payable to him in the future, breaches or may breach the terms of the shareholder approved Executive
Compensation Policy at any time. 

  

	7.	 EXPENSES 

The Company will reimburse the Executive (on production of such evidence as it may reasonably require) the amount of all travelling and
other expenses properly and reasonably incurred by him in the discharge of his duties in strict accordance with the Company’s expenses policy from time to time. 
  

	8.	 PENSION 

  

	8.1	 The Company operates a Group pension plan (the Plan). The Executive is entitled to participate in the Plan (or
such pension scheme as may be established by the Company to replace the Plan), subject to its trust deeds and rules from time to time. The Executive has opted out of the Plan. Whilst his status remains so, he will receive in lieu the annual sum of
10% of his current salary, paid monthly in instalments, together with his salary. 

  

	8.2	 The Company reserves the right to terminate the Plan at any time without replacing it. In this event, and assuming he
is, or has been, a member, the Executive’s rights (if any) will be in accordance with the said trust deeds and rules. 

  

	8.3	 The Executive has been grated Fixed Protection. The Company acknowledges that once the Executive has informed the
Company that he has Fixed Protection, under Regulation 5D of the Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations 2010 it does not need to automatically-enrol or automatically
re-enrol the Executive into a pension scheme. The Company therefore agrees not to enrol the Executive in the Plan or any other pension scheme at any time after the Executive has informed the Company that he
has Fixed Protection 2016, 

 The Company agrees in the meantime that it will not enrol the Executive into the Plan
or any other pension scheme unless it is compelled to do so by law or the parties agree in writing otherwise. If the Company is compelled to enrol the Executive into the Plan or another pension scheme under law, or the Executive opts to join the
Plan or any other pension scheme the Executive acknowledges and agrees that: 

  
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	 	(a)	 the Company has no liability to him if payment of any contribution to, or the provision of any benefit under, the Plan
(whether by itself or when aggregated with any contribution to or any increase in value of the Executive’s rights under any other arrangement) gives rise to an annual allowance or lifetime allowance charge (within the meaning of the Finance Act
2004) and that the Company has no responsibility to make any enquiry or advise the Executive as to the possibility of any such charge; 

  

	 	(b)	 he is liable for reporting and paying any such charge in accordance with the Finance Act 2004; and

  

	 	(c)	 the Company has no liability to him in respect of any loss for any reason of enhanced protection, fixed protection,
fixed protection 2014, fixed protection 2016 or any similar protection allowed in future (for the purposes of the Finance Act 2004) if applicable to the Executive. 

 

	9.	 INSURANCES 

  

	9.1	 In partial spend of the fixed benefits allowance referred to in sub-clause
6.1, the Executive and his spouse or civil partner and any children under the age of 21 (or 24 if in full time education) are entitled to membership of a private medical insurance scheme. 

 

	9.2	 The Executive is entitled to membership of a Group income protection plan and life assurance cover, which will be paid
for by the Company. 

  

	9.3	 Participation in all insurance schemes from time to time is subject to: 

 

	 	(a)	 the terms of the relevant insurance scheme, as amended from time to time; 

 

	 	(b)	 the rules or the insurance policy of the relevant insurance provider, or WPP Healthcare Trust as amended from time to
time; and 

  

	 	(c)	 the Executive (and where relevant any other potential beneficiary) satisfying the normal underwriting requirements of
the relevant insurance provider and the premium being at a rate which the Company considers reasonable. 

  

	9.4	 If the insurer refuses for any reason to provide the benefit to the Executive (or any relevant dependant) the Company
shall not be liable to provide to the Executive any replacement benefit of the same or similar kind or to pay any compensation in lieu of such benefit. Full details of the insurance schemes are available from the Company’s Worldwide
Compensation and Benefits Director. 

  

	9.5	 For the avoidance of doubt, the Company’s sole obligations in respect of the insurance benefits referred to in
sub clause 9.1 and 9.2 is to pay the premia from time to time requested by the provider and to pay to the Executive any sums as may from time to time be received by the Company from the provider in respect of any claim made by the Executive (for him
or a dependent) under any insurance scheme. 

  

	9.6	 The Company shall have the right at its sole discretion to alter the cover provided or any term of any insurance
scheme or to cease to provide (without replacement) any insurance scheme or cover at any time. 

  

	9.7	 The Executive is entitled to the benefit of any indemnity in the Company’s articles of association and may also
entitled to the benefit of cover under such directors and officers liability insurance policy as may be maintained by the Company from time to time. 

  
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	10.	 SICKNESS ABSENCE 

  

	10.1	 If the Executive cannot attend work due to sickness or injury, the Executive will keep the Chairman informed of his
condition and, where the absence lasts for a period of seven calendar days or more, the Executive will (at the request of the Company) produce a doctor’s certificate to the Company in respect of his absence. 

 

	 	(a)	 Provided the Executive complies with the Company’s sickness absence notification and certification requirements,
the Executive shall be entitled to receive his full salary and contractual benefits during any period of sickness absence not exceeding 26 weeks in any rolling period of 12 months. These payments shall be inclusive of any Statutory Sick Pay due. No
payment of salary will be made during any subsequent period of absence when the Executive is eligible to receive benefits under the Group income protection plan referred to in sub clause 9.2. 

 

	10.2	 If the Company so reasonably requires, the Executive agrees to consent to a medical examination by a medical
practitioner nominated by the Company, at the Company’s expense. The Executive agrees that the Company may have access to reports and results produced in connection with any such examination and that it may discuss the contents of the report
with the relevant medical practitioner, subject to the Executive being given the opportunity to review and comment on the report before it is disclosed to anyone within the Company. 

 

	10.3	 If the Executive is absent due to illness for more than one month, the Board shall be entitled at any time thereafter
to appoint an executive director or employee to perform the Executive’s duties and to exercise his powers until the Executive is able to resume his duties, following which such substitute will cease to act in the Executive’s role.

  

	10.4	 The Company reserves the right to terminate the Appointment under the terms of this Agreement even when this would or
might cause the Executive to forfeit any entitlement to sick pay or Group income protection benefit. 

  

	11.	 HOLIDAYS 

  

	11.1	 The Company’s holiday year runs from 1 January to 31 December (the Holiday Year). The Executive
is entitled to 25 days’ paid holiday in addition to the usual public or bank holidays in England) in every Holiday Year, to be taken at times convenient to the Company. 

 

	11.2	 No accrued but untaken holiday may be carried forward to the next holiday year and will lapse unless the Executive has
been prevented from taking holiday due to sickness or statutory family leave to which he is or may be entitled further to Company policy from time to time. 

  

	11.3	 The Company reserves the right to require the Executive to take any outstanding holiday during any period of notice of
termination of employment or to make a payment in lieu of holiday outstanding at the Termination Date. If, at the Termination Date, the Executive has taken more holiday than he has accrued, the Executive hereby expressly consents to the Company
deducting an appropriate amount from any payments otherwise due him. Deductions and payments in lieu of holiday are to be calculated on the basis that a day’s holiday is equal to 1/260 of the Executive’s basic salary.

  

	12.	 OTHER INTERESTS 

During the Appointment, the Executive may not accept any employment with or appointment to any office, whether paid or unpaid, in
relation to anybody, whether corporate or not (other than a Group Company), or directly or indirectly be interested in any manner in any other business except: 

  
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	 	(a)	 as holder or beneficial owner (for investment purposes only) of any class of securities in a company if those
securities are listed or dealt in on a Recognised Investment Exchange and the Executive (together with his spouse, children, parents and parents’ issue) neither holds nor is beneficially interested in more than 1% of the securities of that
class; or 

  

	 	(b)	 with the consent in writing of the Company, which may be given subject to any terms which the Company requires.

  

	13.	 CONFIDENTIAL INFORMATION 

 

	13.1	 In this clause 13, Confidential Information means information (whether or not recorded in documentary form, or
stored on any magnetic or optical disk or memory) relating, without limitation, to the business, clients, customers, products, affairs and finances of the Company or any Group Company for the time being confidential to the Company or any Group
Company or in relation to which the Company or any Group Company is subject to a duty of confidentiality and trade secrets including, without limitation, technical data and know-how relating to the business of
the Company or any Group Company or of any persons having dealings with the Company or any Group Company, whether or not such information (if it is not in oral form) is marked confidential, and includes, without limitation: 

 

	 	(a)	 existing and prospective activities of the Company or any Group Company, including timing, business plans and
financial information; 

  

	 	(b)	 existing and prospective terms of business, prices and pricing strategies and structures, profit margins, trading
arrangements, discounts and rebates of the Company or any Group Company; 

  

	 	(c)	 existing and prospective marketing information, plans, strategies, tactics and timing relating to the Company or any
Group Company; 

  

	 	(d)	 existing and prospective lists of suppliers and rates of charge relating to the Company or any Group Company;

  

	 	(e)	 existing and prospective financial and other products or services, including applications, designs, technical data and
qualifications relating to the Company or any Group Company; 

  

	 	(f)	 existing and prospective software applications relating to the Company or any Group Company; 

 

	 	(g)	 information relating to existing and prospective officers, employees and consultants of the Company or any Group
Company including their engagement, their contractual terms including commission and bonuses and information relating to the termination of their employment or appointment with the Company or any Group Company; 

 

	 	(h)	 any disputes and litigation proposed, in progress or settled in relation to the Company or any Group Company;

  

	 	(i)	 any invention, technical data, know-how or other manufacturing information of
the Group or its customers/clients; and 

  

	 	(j)	 existing and prospective research and development activities. 

 

	13.2	 The Executive must not make use of or divulge to any person or entity, and must use his best endeavours to prevent the
unauthorised use, publication or disclosure of, any Confidential 

  
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Information which is disclosed or made available to the Executive, either directly or indirectly, during the course of, or in connection with, the Executive’s employment or his holding any
office within the Group from any source within the Company or any Group Company and shall be under an obligation promptly to report to the Group any such unauthorised use or disclosure which comes to his knowledge. 

 

	13.3	 This clause 13 does not apply to information which: 

 

	 	(a)	 is used or disclosed in the proper performance of the Executive’s duties or with the prior written consent of the
Company or any Group Company; 

  

	 	(b)	 is ordered to be disclosed by a court of competent jurisdiction or otherwise required to be disclosed by law;

  

	 	(c)	 is already in the public domain (other than as a result of unauthorised disclosure by the Executive or any other
person); or 

  

	 	(d)	 is already lawfully possessed by the Executive without any obligations of confidentiality or restrictions on use.

  

	13.4	 The Executive shall not, during the Appointment or at any time thereafter, make, except for the benefit of the Company
or any Group Company, any copy, record or memorandum (whether or not recorded in writing or on computer disk or tape) of any Confidential Information and any such copy, record or memorandum made by the Executive during the Appointment shall be and
remain the property of the Company and accordingly shall be returned by the Executive to the Company on the Termination Date or when required to do so by the Company. 

 

	13.5	 The Executive shall not other than in the ordinary course of the Appointment without the prior written consent of the
Board either directly or indirectly publish any opinion, fact or material or deliver any lecture or address or participate in the making of any film, radio broadcast or television transmission or communicate with any representative of the media or
any third party relating to: 

  

	 	(a)	 the business or affairs of the Company or of any other Group Company or to any of its or their officers, employees,
customers, clients, suppliers, distributors, agents or shareholders; or 

  

	 	(b)	 the development or exploitation of any Intellectual Property Rights, including Confidential Information.

  

	13.6	 Each of the restrictions in each sub clause above will be enforceable independently of each of the others and its
validity will not be affected if any of the others are invalid. If any of those restrictions are void but would be valid if some part of the restriction were deleted, the restriction in question will apply with such modification as may be necessary
to make it valid. 

  

	13.7	 For the avoidance of doubt, nothing in this Agreement precludes the Executive from making a protected disclosure
within the meaning of Part 4A (Protected Disclosures) of the Employment Rights Act 1996. 

  

	14.	 INTELLECTUAL PROPERTY 

 

	14.1	 For the purposes of this Agreement, the following definitions shall apply: 

 

	 	(a)	 Intellectual Property Rights means: (i) copyrights, moral rights, patents, inventions, know-how, Confidential Information, database rights, brands, business names, domain names, 

  
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and rights in trademarks, service marks and designs (whether registered or unregistered); (ii) applications for registration, and the right to apply for registration, and registrations for any of
the same, and any renewals, reissues, extensions, continuations or divisions thereof; (iii) rights to use such assets listed in subparagraphs (i) and (ii) under licences, consents, orders, statutes or otherwise; and (iv) all other
intellectual property rights and equivalent or similar forms of protection now or hereafter existing anywhere in the world. 

  

	 	(b)	 IP Materials means all documents, software, photographic or graphic works of any type, and other materials in
any medium or format which are created by or on behalf of the Executive in the course of performing his obligations under this Agreement and which are protected by or relate to Intellectual Property Rights. 

 

	14.2	 Any Intellectual Property Rights created by the Executive or arising in the course of his employment or his performing
his obligations under this Agreement shall belong to and vest in the Company. 

  

	14.3	 To the extent that ownership of Intellectual Property Rights does not vest in the Company by operation of law, the
Executive hereby assigns to the Company his entire right, title and interest in all Intellectual Property Rights which arise in the course of performing his obligations under this Agreement (including all present and future copyright, and copyright
revivals and extensions). This assignment shall take effect upon the creation of each of the Intellectual Property Rights but if for any reason this does not occur, he agrees that he will hold all such Intellectual Property Rights on trust for the
benefit of the Company until such time as it does. 

  

	14.4	 The Executive agrees to sign all documents and to do all other acts which the Company requests (at its expense) to
enable the Company to enjoy the full benefit of this clause 14. This includes joining in any application, which may be made in the Company’s sole name for registration of any Intellectual Property Rights (such as a patent, trademark or
registered design), and assisting the Company in defending and enforcing such rights during and after the employment (at the Company’s expense). 

  

	14.5	 Without prejudice to the generality of clause 13 (Confidential Information), the Executive may only use the
Intellectual Property Rights and IP Materials to perform his obligations under this Agreement, and shall not disclose any Intellectual Property Rights or IP Materials to any third party without the express prior written consent of the Company.

  

	14.6	 The Executive waives all moral rights in IP Materials to which he may otherwise be entitled under the law of any
relevant jurisdiction and which cannot be vested or assigned pursuant to sub clause 14.2 or 14.3. To the extent that any moral rights cannot be waived under the laws of any relevant jurisdiction, the Executive agrees that he will not enforce such
rights. 

  

	14.7	 The Executive shall promptly transfer to the Company all IP Materials in his possession or under his control as at the
Termination Date, or at any time when the Company requests. No copies or other record of any IP Materials may be retained by the Executive except with the prior written consent of the Company. 

 

	14.8	 The Executive understands and accepts that the remuneration and benefits provided to him by the Company in accordance
with this Agreement constitute sufficient consideration to the Executive for the performance of his obligations under this clause 14 including, for the avoidance of doubt, the waiver of or covenant not to assert any moral rights that he may have.

  

	14.9	 This clause 14, and the rights and obligations of the parties contained herein, shall survive expiry of this
Agreement, or its termination, for any reason. 

  
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	15.	 TERMINATION OF EMPLOYMENT 

 

	15.1	 The Appointment may be terminated by either party giving the other at least 12 months’ notice in writing.

  

	15.2	 The Company may in its sole and absolute discretion (whether or not any notice of termination has been given under sub
clause 15.1) terminate this Agreement at any time and with immediate effect by giving notice in writing to the Executive that the Company is exercising its rights pursuant to this clause 15. If the Company elects to terminate the Executive’s
employment in this way, it will make, within 30 days, either the first instalment (of equal monthly instalments) of a, or an entire, payment in lieu of notice (Payment in Lieu) equal to the basic salary, benefit allowance and any benefits, as
at the Termination Date, which the Executive would have been entitled to receive under this Agreement during the notice period referred to at sub clause 15.1 (or, if notice has already been given, during the remainder of the notice period), less all
relevant deductions for income tax and National Insurance contributions. For the avoidance of doubt, the Payment in Lieu shall not include any element in relation to: 

 

	 	(a)	 any bonus or discretionary payment(s) that might otherwise have been due during the period for which the Payment in
Lieu is made; and 

  

	 	(b)	 any payment in respect of any holiday entitlement that would have accrued during the period for which the Payment in
Lieu is made. 

  

	15.3	 The Company may pay any sums due under sub clause 15.2 in equal monthly instalments until the date on which the notice
period referred to at sub clause 15.1 would have expired if notice had been given (the Payment Period). 

  

	15.4	 The Payment in Lieu is at all times conditional on the Executive informing the Company immediately in the event that
he receives, or has a right to receive, remuneration from any source in respect of his employment or the provision of his services during the Payment Period or relating to the Payment Period (remuneration shall include any salary, fee or other
benefit). 

  

	15.5	 If the Executive obtains alternative employment or an alternative engagement during the Payment Period any further
monthly instalments of the Payment in Lieu will be reduced on a pro rata basis by any payment or remuneration in respect of such alternative employment or alternative engagement during the Payment Period or relating to the Payment Period.

  

	15.6	 The Executive shall have no right to receive a Payment in Lieu unless the Company has exercised its discretion in sub
clause 15.2. 

  

	15.7	 Nothing in this clause 15 shall prevent the Company from terminating the Appointment in breach of contract or of
common law. 

  

	15.8	 If the Executive: 

  

	 	(a)	 in the reasonable opinion of the Board fails or neglects efficiently and diligently to discharge his duties,
including, without limitation his duties under Chapter 2 of part 10 of the Companies Act 2006, or is guilty of any serious or repeated material breach of his obligations under this Agreement and, if that material breach is remediable, fails to
remedy the breach within a period of 21 days after being notified in writing to do so; 

  

	 	(b)	 is guilty of any fraud, dishonesty, serious misconduct or any other conduct which, in the reasonable opinion of the
Board, brings or is likely to bring the Executive or the Company or 

  
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any Group Company into disrepute or affects or is likely to affect prejudicially the interests of the Company or the Group; 

 

	 	(c)	 is convicted of an arrestable offence (other than a road traffic offence for which a
non-custodial penalty is imposed); 

  

	 	(d)	 is guilty of any material breach or material non-observance of any code of
conduct, requirement, rule or regulation referred to in sub clause 3.2; 

  

	 	(e)	 becomes bankrupt or makes any arrangement or composition with his creditors; 

 

	 	(f)	 is prohibited from being a director by law; 

 

	 	(g)	 resigns as a director without the Company’s prior consent; 

 

	 	(h)	 has become physically or mentally incapable of acting as a director and may remain so for more than six months,
according to a written opinion issued in relation to the Executive to the Company from a registered medical practitioner who is treating the Executive; or 

  

	 	(i)	 is not or ceases to be eligible to work in the UK, 

the Company may by written notice to the Executive terminate this Agreement with immediate effect. 

 

	15.9	 The Company’s rights under clause 15.8 are without prejudice to any other rights that it might have at common law
to terminate the Appointment or to accept any breach of this Agreement by the Executive as having brought the agreement to an end. Any delay by the Company in exercising its rights shall not constitute a waiver thereof. 

 

	15.10	 On the Termination Date or, at the request of the Board on either party giving notice to terminate this Agreement, the
Executive will immediately: 

  

	 	(a)	 deliver to the Company all other property in his possession, custody or under his control belonging to any Group
Company including (but not limited to) computers and any other electronic devices, business cards, credit and charge cards, security passes, original and copy documents or other media on which information is held in his possession relating to the
business or affairs of any Group Company; and 

  

	 	(b)	 to the extent possible, irretrievably delete (without keeping any copies in any format) any information relating to
the business or affairs of the Company or any Group Company or any of its or their business contacts from any computer or communications systems, including any website or email account, owned or used by the Executive outside the Company’s
premises and notify the Company of any passwords the Executive used in relation to its computer system. 

  

	15.11	 If the Executive’s rights or benefits under any share option or share incentive scheme in which the Executive may
participate (as set out at the date hereof in Schedule 2) are affected by the termination of the Employment, his rights will be determined solely in accordance with the rules of the relevant scheme and the Executive shall not be entitled to any
compensation for the loss of any rights or benefits under such scheme. 

  

	15.12	 If the Appointment is terminated for the purpose of the reconstruction or amalgamation of the Company or by reason of
the Company transferring all or a substantial part of its business to another company and the Executive is offered employment by the reconstructed or amalgamated or transferee company on similar terms to the terms of this Agreement, the Executive
will have no claim 

  
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against the Company or such reconstructed or amalgamated or transferee company in respect of the termination of the Appointment. 

 

	16.	 GARDEN LEAVE 

  

	16.1	 Following service of notice to terminate the Appointment by either party or if the Executive purports to terminate the
Appointment in breach, the Board may suspend all or any of the Executive’s duties and powers for such periods and on such terms as he considers expedient and this may include a term that: 

 

	 	(a)	 the Executive must stay away from all or any of the Company’s premises, and/or 

 

	 	(b)	 will not be provided with any work, and/or 

 

	 	(c)	 will have no business contact with all or any of the Group’s agents, employees, customers, clients, distributors
and suppliers, and/or 

  

	 	(d)	 will have no access to the Company’s communications systems. 

(referred to as Garden Leave). 
  

	16.2	 During any period of Garden Leave the Company will continue to pay the Executive’s salary, benefits allowance and
maintain the benefits to which he is contractually entitled prior to the commencement of his Garden Leave (for the avoidance of doubt the Executive shall not be entitled to any bonus or discretionary payment(s) during any period of Garden
Leave).

  

	16.3	 During any period of Garden Leave may appoint a replacement to exercise any of the Executive’s duties and
responsibilities and may require the Executive to take such actions as he reasonably requires to effect a proper handover of any of his duties and responsibilities. Alternatively, the Company may require the Executive to carry out exceptional duties
or special projects outside the normal scope of his duties and responsibilities (provided such projects are broadly commensurate with his status). 

  

	16.4	 During any period of Garden Leave the Executive’s employment will continue and the Executive will continue to be
bound by his obligations under this Agreement and by his general duties of fidelity and good faith (and, where applicable, as a fiduciary). The Executive agrees that the Company may, if it so chooses, announce to third parties that the Executive has
resigned or been given notice (as the case may be) but the Executive will not make any comment on his status or change of duties, except to confirm he is on garden leave. 

 

	17.	 OFFICE AS A DIRECTOR 

 

	17.1	 Any office or directorship which the Executive holds in any Group Company is subject to the articles of association of
the relevant company from time to time. 

  

	17.2	 The Executive is required to familiarise himself with all his responsibilities as a director, legal and/or otherwise.

  

	17.3	 Upon termination of this Agreement, or on the Board’s request, the Executive will resign from any office held by
him in any Group Company without any claim for compensation. 

  

	17.4	 The Executive shall, at the time of signing this Agreement, appoint the Company as his attorney by executing a Power
of Attorney in the form set out in Schedule 1 so that the Company can give effect to the provisions of sub clause 17.3 above and clause 14 above as required. 

  
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	17.5	 In the event that the Executive fails to be re-elected as a director of any
Group Company, or if the Executive resigns as a director of any Group Company at the Company’s request, this Agreement shall not automatically terminate and the Executive will continue as an employee of the Company unless and until either party
elect to terminate the employment (either in accordance with clause 15.1, or where the Company may have a right to terminate his employment summarily under clause 15 or at common law). 

 

	17.6	 The Executive must not resign from any directorship or office of any Group Company, except on termination of this
Agreement (by either party), on the Board’s request or as provided in the articles of association of the Company, and he must not do anything that would cause him to be disqualified from continuing to act as a director. 

 

	18.	 PROTECTIVE COVENANTS 

 

	18.1	 The Executive acknowledges that his senior position with the Company and any Group Company gives him access to and the
benefit of confidential information vital to the continuing business of the Company and any Group Company and influence over and connection with the Company’s customers, clients, suppliers, distributors, agents, employees, workers, consultants
and directors and those of any Group Company in or with which the Executive is engaged or in contact and acknowledges and agrees that the provisions in Schedule 3 are reasonable in their application to him and necessary but no more than sufficient
to protect the interests of the Company and any Group Company. 

  

	18.2	 If any person offers to the Executive any arrangement, contractual or otherwise, and whether paid or unpaid, which
might or would cause the Executive to breach any of the covenants in Schedule 3, he will notify that person of the terms of that Schedule 3 and provide that person with a complete copy of it. 

 

	19.	 DATA PROTECTION 

  

	19.1	 The Company takes its data protection obligations very seriously and complies with its legal obligations under the
General Data Protection Regulation and the Data Protection Act 2018 to protect the privacy and security of the Executive’s personal information. As a data controller the Company is required to inform the Executive how we hold and use his
information. 

  

	20.	 GRIEVANCE AND DISCIPLINARY PROCEDURE 

 

	20.1	 If the Executive is dissatisfied with any disciplinary decision relating to him, including any decision to dismiss
him, he will have the right to appeal to the Chairman of WPP plc, whose decision will be final. 

  

	20.2	 If the Executive seeks to redress any grievance relating to his employment, the Executive should raise this in the
first instance with the Chairman. If the matter is not satisfactorily resolved, the Executive should then apply in writing to the Board and the Board’s decision will be final. 

 

	20.3	 The Company may suspend the Executive from any or all of his duties for as long as is reasonably necessary to
investigate any matter in which the Executive is implicated or involved, whether directly or indirectly, or in the event that the Company believes that the Executive’s presence in the office would be detrimental to any investigation or to other
employees or to the Executive. The provisions of clause 16.1 (a) to (d) and 16.2 will apply during any such period of suspension, with any additional terms depending on the circumstances that may be notified to the Executive in writing at that
time. 

  
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	21.	 COLLECTIVE AGREEMENTS 

The Company is not a party to any collective agreement which affects the Executive’s employment. 

 

	22.	 GENERAL 

  

	22.1	 This Agreement is governed by and construed in accordance with English law, save where provided otherwise herein.

  

	22.2	 The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any
dispute or claim that arises out of or in connection with this Agreement or its subject matter or formation (including non-contractual disputes or claims). 

 

	22.3	 This Agreement contains all the information which is required to be provided to the Executive under section 1 of the
Employment Rights Act 1996. 

  

	22.4	 As from the effective date of this Agreement, all other agreements or arrangements between the Company or any Group
Company relating to the employment of the Executive cease to have effect. This Agreement (and the documents referred to within it, including but not limited to the share plans that the Executive participates in from time to time) comprises the whole
agreement between the Executive and the Company relating to the Executive’s employment by the Company. 

  

	22.5	 Each Group Company shall have the right under the Contracts (Rights of Third Parties) Act 1999 to enforce the rights
bestowed on it by this Agreement. The consent of a Group Company is not required to amend any terms of this Agreement. Except as set out in this clause 22, a person who is not a party to this Agreement may not enforce any of its provisions under the
Contracts (Rights of Third Parties) Act 1999. 

  

	22.6	 This Agreement may be executed in any number of counterparts, each of which, when executed, shall constitute a
duplicate original, but all the counterparts shall together constitute the one agreement. 

 AS WITNESS the hands of the
Executive and of the duly authorised representatives of the Company on the date which appears first on page 1. 
 SIGNATORIES

  

					
	
SIGNED by WPP 2005 LIMITED                

acting by MARK READ
	  	 )
	  	 /s/ Mark Read

			
	 SIGNED by JOHN ROGERS
	  	 )
	  	 /s/ John Rogers

  
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 SCHEDULE 1 

POWER OF ATTORNEY 
 By this Power of Attorney
made on 1 October 2019, I JOHN ROGERS in accordance with the terms of my service agreement (the Service Agreement) with WPP 2005 Limited (the Company) dated today HEREBY APPOINT the Company to act as my attorney with authority in my
name and on my behalf (so that words and expressions defined in the Service Agreement shall have the same meaning herein): 
  

	(a)	 during my employment or after it has terminated, to do anything and sign or execute any document and generally to use
my name for the purpose of giving to the Company or to any Group Company or its or their nominee(s) the full benefit of clause 14 (Intellectual Property); 

  

	(b)	 during my employment or after it has terminated, to do anything and sign or execute any document as may be required
under the constitution of the Company and each Group Company to make my resignation as a director from those companies effective; and 

  

	(c)	 to appoint any substitute and to delegate to that substitute all or any powers conferred by this Power of Attorney.

 I declare that this Power of Attorney, having been given by me to secure my obligations under clause 14 (Intellectual
Property) and clause 15 (Termination of Employment) of the Service Agreement, shall be irrevocable in accordance with section 4 of the Powers of Attorney Act 1971. 

This Power of Attorney is governed by and construed in accordance with English law, save where provided otherwise herein. 

The parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim that arises out of
or in connection with this Power of Attorney or its subject matter or formation (including non-contractual disputes or claims). 

IN WITNESS whereof this Power of Attorney has been duly executed. 
  

							
	 EXECUTED as a deed by JOHN ROGERS
	  	 	)	 	  	
		  	 	)	 	  	/s/ John Rogers
	 in the presence of:
	  	 	)	 	  	
			
	 Witness:
	  				  	

  

					
	 Signature:    
	  	 /s/ Rachel Blackman - Rogers

 
	  	
			
	 Name:
	  	 Rachel Blackman - Rogers

 
	  	
			
	 Address:
	  	 	  	
			
		  	 	  	
			
		  	 	  	
			
		  	 	  	

  
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 SCHEDULE 2 

INCENTIVE PLANS 
 The Executive will be
eligible to participate in each of the Incentive plans referred to below in accordance with the rules of the relevant plans from time to time. 
 The
receipt of any bonus, award, stock or payment under any or all of these plans in one year shall not create any right or expectation to any bonus or payment in any subsequent year. 

 

	 	1	 SHORT TERM INCENTIVE PLAN (STIP) 

 

	1.1	 The Executive’s STIP target award will be up to 112% of base salary with a potential award of up to a maximum of
225% of basic salary depending how far the target may be exceeded. 

  

	1.2	 All payments under the STIP are discretionary and subject to the approval of the Compensation Committee.

  

	1.3	 STIP awards are paid out partly in cash and partly in the form of a deferred stock award under the ESA, the exact
split from time to time being a matter of Compensation Committee discretion. The cash element under the STIP is payable in the year following the year for which the bonus is payable. The deferred stock element will be governed by the rules of the
relevant stock plan. 

  

	1.4	 In the event the Executive’s employment is terminated or he is under notice of termination, whether such notice
is given or received by the Company, prior to the date on which the bonus is paid (in respect of the cash element) or prior to the vesting date of the deferred stock award (in respect of the deferred stock element) the Executive will forfeit all and
any rights or entitlements under the STIP and will not have any rights against the Company and/or WPP plc in respect of the loss of such entitlement. 

  

	 	2	 EXECUTIVE SHARE AWARD (ESA) 

 

	2.1	 The Executive will be eligible to receive Executive Share Awards (ESA) further to his STIP awards.

  

	2.2	 Annual targets based on the financial results of the Company will be determined by WPP plc. ESAs are granted in form
of awards (if any) made after the end of the relevant calendar year, under the relevant stock plan and are subject to such conditions as the Compensation Committee may determine from time to time. All ESAs are subject to the overriding discretion of
the Compensation Committee up to the point at which the award under the relevant stock plan is granted. Currently the ESA share vesting period is three years from the start of the Financial Year to which the relevant ESA award relates.

  

	2.3	 The granting and vesting of stock awards will be subject to such conditions as the Compensation Committee may
determine from time to time and subject always to the provisions of the relevant stock plan. 

  

	 	3	 EXECUTIVE PERFORMANCE SHARE PLAN (EPSP) 

 

	3.1	 At the discretion of the Compensation Committee, the Executive will be eligible to participate in the Executive
Performance Share Plan. 

  

	3.2	 The Company currently expects that the Executive will be granted a target award under the EPSP of WPP plc stock of
300% of his base salary (but this is subject always to the discretion of the 

  
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Compensation Committee and may be adjusted downwards prior to the grant being made) which will vest subject to performance (as deemed by the Compensation Committee in its discretion) at the end
of the performance period. 

  

	3.3	 The granting and vesting of awards under the EPSP will be subject to such conditions as the Compensation Committee may
determine from time to time and subject always to the provisions of the EPSP 

  

	 	4	 PERFORMANCE ADJUSTMENTS 

 

	4.1	 If the Executive: 

  

	 	(a)	 commits an act of fraud, dishonesty, deceit, breach of fiduciary duty or other gross misconduct;

  

	 	(b)	 does or omits to do something that results in a set of audited accounts of a Group Company being materially wrong or
misleading; and either 

  

	 	(i)	 those accounts have to be materially corrected; or 

 

	 	(ii)	 a subsequent set of accounts or data have to be adjusted or include a provision or write down as a result of that act
or omission; or 

  

	 	(iii)	 a liquidation event occurs in relation to that Group Company; or 

 

	 	(c)	 knew or should have known that any information used to calculate any STIP awarded to him was incorrect; or

  

	 	(d)	 prior to the award or payment of any STIP award, committed any material wrongdoing that had the Company known of it
would have entitled the Company to terminate the Executive’s employment in accordance with clause 15 of the Agreement, 

then the Compensation Committee can decide that: (i) any STIP award or part of a STIP award awarded to him pursuant to this
Agreement will be cancelled; and/or (ii) any STIP award or part of a STIP award paid to him in satisfaction of any STIP award under this Agreement must be repaid by the Executive. 

 

	4.2	 This sub-clause 4.2 applies if, at any time prior to the third anniversary of
the payment of any STIP awarded pursuant to this Agreement, the Compensation Committee determines that any of the circumstances described in sub-clauses 4.1(a) to 4.1(d) has arisen. 

 

	4.3	 If sub-clause 4.2 applies, the Compensation Committee can decide that the
relevant STIP award or part of the STIP award will be cancelled or should not have been paid and must be repaid by the Executive to compensate the Company for any overpayment. 

 

	4.4	 Subject to sub-clause 4.5 the Executive will, if required to do so by the
Compensation Committee, repay to the Company or to another Group Company as notified by the Company the amount of cash that the Compensation Committee determines is required to compensate the Company for any overpayment. 

  
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	4.5	 If the Executive was subject to tax, social security contributions or other levies (Taxes) on payment of the STIP
award, and in the Compensation Committee’s reasonable opinion he will not get a credit or repayment of some or all of the Taxes, the Compensation Committee will reduce the amount of cash that the Executive can be required to transfer under sub-clause 4.4 by the amount that reflects the Taxes in respect of which credit or repayment is unavailable. 

  

	4.6	 The Compensation Committee will act reasonably in using its authority under
sub-clauses 4.1to 4.5of this Schedule 2 

  

	 	5	 ONE-TIME AWARDS 

5.1        The Executive will, subject to the terms of this Schedule 2, be eligible to receive the following one-time awards in compensation for the short term and long-term incentive awards he will cease to be entitled to on cessation of his previous directorship of and employment with J Sainsbury plc or one of its
subsidiaries (“JS”): 
 (a) a cash award equivalent to the cash bonus he would have received from JS in respect of the 2019 financial year
and payable in 2020 determined on the same basis as the compensation committee of JS awards a cash bonus to the CEO and Executive management team of JS; and 

(b) £361,252 payable in cash in respect of the JS 2018 Deferred Share Award; and 

(c) £368,455 payable in cash in respect of the JS 2016 LTIP Award; and 

(d) an award equivalent to the value of the deferred share award he would have received from JS in respect of the 2019 financial year and awarded in
2020 determined on the same basis as the compensation committee of JS awards a cash bonus to the CEO and Executive management team of JS, to be granted over restricted ordinary WPP shares with a vesting date in May 2022; 

(e) an award to the value of £364,102 to be granted over restricted ordinary WPP shares with a vesting date in May 2021 in respect of the JS 2019
Deferred Share Award; and 
 (f) a cash award in respect of the JS 2017 LTIP award currently estimated to be valued at £644,160 but to be
determined based on the actual performance disclosed in the JS 2020 annual report and accounts and to include JS dividend equivalents. The Executive commits to utilise the net amount after tax and deductions to acquire WPP ordinary shares that he
will hold beneficially for a minimum of two years; and 
 (g) an award to the value of £1,069,788 to be granted over ordinary shares under the
terms of the WPP EPSP 2019 award with a vesting date of March 2021 in respect of the JS 2018 LTIP. The Executive commits to utilise the net amount after tax and deductions to acquire WPP ordinary shares that he will hold beneficially for a minimum
of two years; and 
 (h) an award to the value of £1,427,991 to be granted over ordinary shares under the terms of the WPP EPSP 2019 award with
a vesting date of March 2022 in respect of the JS 2019 LTIP. The Executive commits to utilise the net amount after tax and deductions to acquire WPP ordinary shares that he will hold beneficially for a minimum of two years. 

5.2        In relation to the one-time awards in clause 5.1 payable in
cash, the payment will be made in the second month following the Executive’s commencement of employment with the Company or such later date when the outcomes of the JS incentive plans are available. The
one-time share award in clause 5.1 will be made in the first open period of WPP plc following the Executive’s commencement of employment with the Company. 

  
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 SCHEDULE 3 

PROTECTIVE COVENANTS 
  

	1	 The Executive agrees and undertakes with the Company acting on behalf of itself and as agent for each Group Company
that he will not in any Relevant Capacity at any time during the Restricted Period: 

  

	 	(a)	 within or in relation to the Restricted Territory take any steps preparatory to or be directly or indirectly engaged,
employed, interested or concerned in: 

  

	 	(i)	 any Competing Business; and/or 

 

	 	(ii)	 any Target Business Entity, 

 

	 	(b)	 within or in relation to the Restricted Territory acquire a substantial or controlling interest directly or by or
through any nominee or nominees in any Competing Business, Target Business Entity or in any Person owning or controlling a Competing Business or Target Business Entity; or 

 

	 	(c)	 solicit or attempt to solicit, canvass, interfere with or entice away from the Company or any Relevant Group Company
the custom or any prospective custom of any Client or any Prospect with a view to providing to that Client or Prospect any products or services which are the same as or materially similar to any Restricted Business in competition with the Company or
any Relevant Group Company; or 

  

	 	(d)	 provide or agree to provide any products or services which are the same as or materially similar to any Restricted
Business to any Client or any Prospect in competition with the Company or any Relevant Group Company; or 

  

	 	(e)	 solicit, entice or encourage or attempt to solicit, entice or encourage any Key Individual to leave the employment of
the Company or any Relevant Group Company (whether or not such person would commit any breach of his contract of employment by doing so); or 

  

	 	(f)	 employ, engage, appoint, enter into partnership or association with or in any way cause to be employed, engaged or
appointed any Key Individual in relation to any Person which is or is proposing to be a Competing Business or is or is proposed to be directly or indirectly owned by or controlling any Competing Business; or 

 

	 	(g)	 provide or agree to provide any products or services which are the same as or materially similar to any Restricted
Business in respect of any Competitor Account; or 

  

	 	(h)	 be employed or engaged by any Client or Prospect if as a result the Client or Prospect will cease to use or materially
reduce its usage of the products or services of the Company or any Relevant Group Company or, in the case of a Prospect, will not use the products or services of the Company or any Relevant Group Company or use them to a materially lesser extent; or

  

	 	(i)	 solicit or try to solicit or place orders for the supply of products or services from any Supplier if as a result the
Supplier will cease supplying, materially reduce its supply or vary detrimentally the terms on which it supplies products or services to the Company or any Relevant Group Company; or 

  
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	 	(j)	 encourage, assist or procure any Person to do anything which if done by the Executive would be a breach of sub clauses
1 (a) to (i). 

  

	2	 The Executive agrees that updating his profile and/or connecting or reconnecting to Clients, Suppliers or Prospects
using Social Media during the Restricted Period may amount to a breach of sub clauses 1 (a) to (j) above. 

  

	3	 The parties agree that the restrictions (whether taken individually or as a whole) in sub clauses 1 (a) to
(j) above are reasonable having regard to the legitimate protectable interests of the Company and the Group and that each such restriction is intended to be separate and severable and the validity of each is not affect if any of the others are
involved. In the event that any of the restrictions is held to be void but would be valid if part of its wording was deleted, that restriction shall apply with whatever deletion is necessary to make it valid and effective. 

 

	4	 It is understood and agreed by the parties that damages shall be an inadequate remedy in the event of a breach by the
Executive of any of the restrictions contained in sub clauses 1 (a) to (i) above and that any such breach by him or on his behalf will cause the Company and any Relevant Group Company great and irreparable injury and damage. Accordingly, he
agrees that the Company and/or any Relevant Group Company shall be entitled, without waiving any additional rights or remedies otherwise available to it at law or in equity or by statute, to injunctive and other equitable relief in the event of a
breach or intended or threatened breach by the Executive of any of those restrictions. 

  

	5	 If the Company exercises its right to suspend the Executive’s duties and powers under clause 16, the period of
the suspension will reduce the Restricted Period. 

  

	6	 For the purposes of this Schedule 3 the following additional definitions shall apply: 

Client means any Person with whom or which the Company or any Relevant Group Company has arrangements in place for the provision
of any Restricted Business and with whom or which the Executive had material involvement or for whose business he was responsible or about which he acquired material Confidential Information, in the course of his employment at any time during the
Relevant Period. 
 Competing Business means any Person providing or proposing to provide any products or services which are
the same as or materially similar to and competitive with any Restricted Business. 
 Competitor Account means any account,
product or brand which competes with any Client’s account, product or brand in respect of which the Executive had material dealings or responsibility on behalf of the Company or any Relevant Group Company or about which he acquired Confidential
Information, during the course of his employment at any time during the Relevant Period. 
 Key Individual means any individual
who was employed by the Company or any Relevant Group Company to provide services personally at the date on which the Appointment terminates (or but for the breach by the Executive of his obligations under this Agreement and/or implied by law would
have been so employed at the date on which the Appointment terminates) and who in the course of his duties during the Relevant Period had material dealings with the Executive and: 

 

	 	(a)	 either: 

  

	 	(i)	 reported directly to him; and 

  
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	 	(ii)	 had material contact with clients or suppliers of the Company or any other Relevant Group Company in the course of his
employment; 

 or 
  

	 	(b)	 was a member of the board of directors or the senior management team of the Company or any Relevant Group Company or
reported to any such board of directors or senior management team. 

 Prospect means any Person who was at
any time during the Relevant Period negotiating or discussing (which shall include for these purposes a pitch or presentation) with the Company or any Relevant Group Company the provision of any Restricted Business and in respect of which such
negotiations or discussions the Executive was materially involved or had responsibility for or about which he acquired material Confidential Information, in the course of his employment at any time during the Relevant Period. 

Relevant Capacity means either alone or jointly with another or others, whether as principal, agent, consultant, director,
partner, shareholder, independent contractor, employee or in any other capacity, whether directly or indirectly, through any Person and whether for the Executive’s own benefit or that of others (other than as a shareholder holding directly or
indirectly by way of bona fide investment only and subject to prior disclosure to the Company up to 1% in nominal value of the issued share capital or other securities of any class of any company listed or dealt in on any Recognised Investment
Exchange). 
 Relevant Group Company means any Group Company to which the Executive rendered services or for which he had
management or operational responsibility during the course of his employment at any time during the Relevant Period. 
 Relevant
Period means the twelve-month period ending with the Termination Date. 
 Restricted Business means and includes any of the
products or services provided by the Company or any Relevant Group Company at any time during the Relevant Period with which the Executive had a material involvement or about which he acquired Confidential Information at any time during the Relevant
Period. 
 Restricted Period means the 12-month period commencing on the Termination
Date in relation to sub-clause 1(a) and the 18-month period commencing on the Termination Date in relation to all remaining
sub-clauses in clause 1 above. 
 Restricted Territory means England and such other
countries in which the Company or any Relevant Group Company carried on any Restricted Business at the Termination Date. 

Supplier means any Person who at any time during the Relevant Period provided products or services to the Company or any Relevant
Group Company being a Person with whom the Executive had material dealings or for whom he had responsibility or about whom he acquired material Confidential Information, in the course of his employment at any time during the Relevant Period. 

Target Business Entity means any business howsoever constituted (whether or not conducting a Restricted Business) which was at
the Effective Date or at any time during the Relevant Period a business which the Company or any Relevant Group Company had entered into negotiations with or had approached or had identified as: 

  
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	 	(a)	 a potential target with a view to its acquisition by the Company or any Relevant Group Company; and/or

  

	 	(b)	 a potential party to any joint venture with the Company or any Relevant Group Company, 

in either case where such approach or negotiations or identity were known to a material degree by the Executive or about which he
acquired material Confidential Information, in the course of his employment during the Relevant Period. 

  
 24

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00308-of-00352.parquet"}]]