Document:

EX-4.26

 Exhibit 4.26 

3 September 2018 
 CEO Contract 

SERVICE AGREEMENT 
 3 SEPTEMBER 2018

 WPP 2005 LIMITED 
 and 

MARK READ 

 CONTENTS 
  

							
	 Clause
	 		  	 	Page	 
			
	 1.
	 	Interpretation	  	 	3	 
	 2.
	 	Commencement of Appointment	  	 	3	 
	 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	  	 	11	 
	 16.
	 	Garden Leave	  	 	13	 
	 17.
	 	Office as a Director	  	 	14	 
	 18.
	 	Protective Covenants	  	 	15	 
	 19.
	 	Data Protection	  	 	15	 
	 20.
	 	Grievance and Disciplinary Procedure	  	 	15	 
	 21.
	 	Collective Agreements	  	 	15	 
	 22.
	 	General	  	 	15	 
		
	 Signatories
	  	 	16	 
		
	 Schedule
	  			
			
	 1.
	 	Power of Attorney	  	 	17	 
	 2.
	 	Incentive Plans	  	 	18	 
	 3.
	 	Protective Covenants	  	 	20	 

 THIS AGREEMENT is made on 3 September 2018  

BETWEEN: 
  

	(1)	 WPP 2005 LIMITED (registered number 01003653) whose registered office is at 27 Farm Street London W1J 5RJ (the
Company); and 

  

	(2)	 MARK READ of 12 Elm Park Road London SW3 6BB (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. 

 

	2.	 COMMENCEMENT OF APPOINTMENT 

 

	2.1	 The Appointment will begin on 3 September 2018. The Executive’s previous employment with the Company counts
towards the Executive’s period of continuous employment, which accordingly began on 2 September 2002. 

  
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	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 Executive 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;

  

	 	(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 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 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); 

  

	 	(I)	 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. 

  
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	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 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 £975,000 and a fixed benefits allowance of £35,000 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
bi-annually. 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 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 on going 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 

  
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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	 Any bonus payable in respect of the 2018 Financial Year will be calculated on a time prorated basis to reflect the
time split of the 2018 Financial Year during which the Executive has commenced his duties hereunder and also reflecting the contribution he has made in his previous role as Joint Chief Operating Officer (1 January 2018 to 16 April 2018) until
the date of this Agreement. 

  

	6.6	 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. 

 

	6.7	 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 20% of
his current salary less Employers’ national insurance contributions, 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 intends to apply for Fixed Protection 2016. The Company acknowledges that once the Executive has
informed the Company that he has Fixed Protection 2016, 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: 
  

	 	(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 

  
 6 

	 	 
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 30 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: 
  

	 	(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 

  
 8 

	 	 
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 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.

  
 9 

	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, 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. 

  
 10 

	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. 

  

	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 

  
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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 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; 

  
 12 

	 	(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 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 

  
 13 

	 	(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. 

 

	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. 

  
 14 

	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, 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. 

  

	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. 

  
 15 

	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 a duly appointed attorney Roberto

Quarta
	 	 )
	  	 /s/ Roberto Quarta

			
	 SIGNED by MARK READ
	 	)	  	 /s/ Mark Read

  
 16 

 SCHEDULE 1 

POWER OF ATTORNEY 

By this Power of Attorney made on 3 September 2018, I MARK READ of 12 Elm Park Road London SW3 6BB 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 MARK READ
	 	 )
	  	
		 	)	  	 /s/ Mark Read

	 in the presence of:
	 	 )
	  	

  

					
			
	 Witness:
	  		 	
			
	 Signature:
	  	 /s/ Andrea Harris
	 	
			
	 Name:
	  	 ANDREA HARRIS
	 	
			
	 Address:
	  	 27 FARM STREET
	 	
		  	 LONDON
	 	
		  	 W1J 5RJ
	 	
		  	  
	 	

  
 17 

 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 125% of base salary with a potential award of up to a maximum of
250% 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
350% of his base salary (but this is subject always to the discretion of the 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) approximately 5.25 years after the start of the performance period. 

  
 18 

	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 STlP 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. 

 

	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 4.1 to 4.5 of this Schedule 2. 

  
 19 

 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 

 

	 	(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). 

  
 20 

	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 

 

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

  

	 	or	 

  
 21 

	 	(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: 

 

	 	(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. 

  
 22EX-4.27

 Exhibit 4.27 
  

 
 RULES 

OF 
 THE WPP plc STOCK PLAN 2018

 Committee Adoption:            12 June 2018 

Expiry
Date:                          11 June 2028 
  

 

					
	Contents	  	 	 
		
	 1. Meaning of words used
	  	 	2	 
		
	 2. Granting Awards
	  	 	4	 
		
	 3. Phantom Awards
	  	 	6	 
		
	 4. Performance Conditions and other conditions
	  	 	6	 
		
	 5. Individual limit for Executive Directors
	  	 	7	 
		
	 6. Other terms applicable to Awards
	  	 	7	 
		
	 7. Dividend Equivalents
	  	 	8	 
		
	 8. Vesting of Awards – general rules
	  	 	8	 
		
	 9. Satisfaction of Awards
	  	 	9	 
		
	 10. Holding Period
	  	 	10	 
		
	 11. Leavers
	  	 	11	 
		
	 12. Company events
	  	 	12	 
		
	 13. Exchange of Awards
	  	 	13	 
		
	 14. Variations in share capital
	  	 	14	 
		
	 15. Clawback
	  	 	15	 
		
	 16. Restrictive Covenants
	  	 	16	 
		
	 17. General
	  	 	16	 
		
	 18. Administration
	  	 	18	 
		
	 19. Changing the Plan and termination
	  	 	18	 
		
	 20. Governing law, jurisdiction and language
	  	 	19	 
		
	 Schedule 1: US
	  	 	20	 
		
	 Schedule 2: France
	  	 	23	 
		
	 Schedule 3: Restrictive Covenants
	  	 	26	 

  
 WPP plc – Rules
– The WPP plc Stock Plan 2018 
 Page 1 of 29 

 The WPP plc Stock Plan 2018 

This Plan is not approved by shareholders. No new issue Shares or treasury Shares will be used in this plan. Directors of the Company may only be made
Awards which do not require shareholder consent under the Listing Rules of the London Stock Exchange. Awards may be either stand alone or may relate to bonus deferral arrangements and buyouts. 

 

	1.	 Meaning of words used 

 

	1.1	 In these rules: 

“Acquiring Company” means a person who obtains Control of the Company; 

“ADR” means an American Depository Receipt arrangement sponsored by the Company; 

“Award” means a Conditional Award or, where relevant, a Phantom Award; 

“Award Certificate” means a certificate issued to a Participant pursuant to rule 2.7 (Issue of Award Certificate); 

“Board” means the board of directors of the Company or, as appropriate, a duly authorised committee of it; 

“Bonus” means a discretionary bonus payable to an Employee by a Member of the Group under a 

Bonus Plan for a particular Financial Year; 

“Bonus Plan” means any discretionary cash bonus arrangement or plan operated by a Member of the Group from time to time; 

“Business Day” means a day on which the London Stock Exchange is open for the transaction of business; 

“Clawback” means the provisions contained in rule 15 (Clawback); 

“Clawback Adjustment” means a repayment relating to the value of an Award in accordance with rule 15 (Clawback) and/or rule 16
(Restrictive Covenants); 
 “Clawback Period” means such period, specified in the relevant Award Certificate, following
Vesting as the Committee shall determine, during which Clawback may be invoked; 
 “Committee” means the Compensation
Committee of the Board or such other committee comprising a majority of non-executive directors of the Company to which the Board delegates responsibility for overseeing the operation of the Plan; 

“Companies Law” means the Companies (Jersey) Law 1991; 

“Company” means WPP plc; 

“Conditional Award” means a conditional right to acquire Shares granted under the Plan; 

“Control” means the power of a person to secure by means of the holding of shares or the possession of voting power or by
virtue of any powers conferred by any articles of association or other document, that the affairs of a body corporate are conducted in accordance with the wishes of that person; 

“Cross-clawback” means the provision contained in rule 6.5 (Cross-clawback); 

“Dealing Restrictions” means any applicable restriction or restrictions on dealings or transactions in securities imposed by:

  

	 	(i)	 any rules, statutory requirements, orders, legal or regulatory code, provision or rule or other requirement or
guidance; and/or 

  
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	 	(ii)	 any code adopted or established by the Company in addition or replacement to (i) above, in each case in
force, and as amended or replaced, from time to time; 

 “Dividend Equivalents” means an amount (in cash
and/or additional Shares) equal in value to any dividends that would have been paid on those Shares by reference to dividend record dates falling between the Grant Date and the date on which the Award Vests, as described in rule 7 (Dividend
Equivalents); 
 “Employee” means any employee of any Member of the Group; 

“Event” means: 
  

	 	(i)	 the discovery of a misstatement of the accounts of any Member of the Group resulting in an adjustment to those
accounts; 

  

	 	(ii)	 the discovery that an assessment of any Performance Condition or other condition applicable to an Award was
based on error, or inaccurate or misleading information; 

  

	 	(iii)	 a determination by the Committee that the Participant has engaged in fraud or committed gross misconduct, or
otherwise that there are or were circumstances that would entitle a Member of the Group to summarily dismiss the Participant; or 

  

	 	(iv)	 any other circumstances which, in the Committee’s opinion, justify the operation of Malus and/or a
Clawback Adjustment in relation to the Participant’s Award; 

 “Financial Year” means a financial
year of the Company; 
 “Grant Date” means the date on which an Award is granted; 

“Holding Period” means a period following the Vesting of an Award or such other period as the Committee determines, during
which rule 10.2 (Nature of Holding Period) will apply to the Award and/or the Shares acquired on Vesting of the Award; 

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

“London Stock Exchange” means London Stock Exchange plc or its successor; 

“Malus” means the provisions contained in rule 6.4 (Malus); 

“Market Value” means, on any date when Shares are listed on the London Stock Exchange: 

 

	 	(i)	 the mid-market closing price of a Share on the London Stock Exchange
for the preceding Business Day; or 

  

	 	(ii)	 if the Committee so determines, the average of the mid-market closing
prices of a Share on the London Stock Exchange for such number of preceding Business Days as the Committee determines, or, on any date where the Shares are not so listed, the market value of a Share as determined by the Committee;

 “Member of the Group” means the Company and its Subsidiaries from time to time, and
“Group” will be construed accordingly; 
 “New Award” means an award which satisfies the requirements of
rule 13.2 (Requirements for a New Award); 
 “Participant” means a person holding or who has held an Award or, where
applicable, their personal representatives; 
 “Performance Condition” means any condition imposed under rule 4.1
(Application of Performance Conditions) that is linked to the performance of the Company and/or any Member of the Group, a division and/or the Participant; 

  
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 “Performance Period” means the period over which any Performance Conditions
are to be satisfied; 
 “Phantom Award” means a conditional right granted under the Plan to receive a cash sum in the future
that is linked to the value of a given number of notional Shares; 
 “Plan” means the plan constituted by these rules and
known as The WPP plc Stock Plan 2018, as changed or amended from time to time; 
 “Policy” means the Company’s
Directors’ Compensation Policy as approved by share owners at that time; 
 “Restrictive Covenants” means the terms set
out in Schedule 3 (Restrictive Covenants) to this Plan; 
 “Share” means a fully paid ordinary share in the capital of the
Company and includes ADRs; 
 “Subsidiary” means a body corporate which is a subsidiary of the Company within the meaning of
Articles 2 and 2A of the Companies Law; 
 “Taxation” means any tax and social security charges (and/or any similar
charges), wherever arising, in respect of a Participant’s Award or otherwise arising in connection with their participation in the Plan; 

“Tax Election” means an election for a particular tax and/or social security treatment in respect of an Award or the Shares
acquired pursuant to it (which may include a joint election under Chapter 2 of Part 7 of ITEPA or an overseas equivalent); 

“UK” means the United Kingdom; 

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

 “Vesting” means in relation to a Conditional Award, a Participant becoming entitled to have the Shares underlying their
Award delivered to them; 
 and “Vest” and “Vested” will be construed accordingly; and 

“Vesting Date” means the date specified in the Award Certificate as being the date that the Award is expected to Vest. 

 

	1.2	 Interpretation 

In this Plan, the singular includes the plural and vice versa and words imparting a gender include every gender. References to any enactment or
statutory requirement will be construed as references to that enactment or requirement as from time to time amended, modified or re-enacted and include any subordinate legislation made under it. 

 

	2.	 Granting Awards 

 

	2.1	 Eligibility 

An individual is only eligible to be granted an Award if they are an Employee at the Grant Date. 

 

	2.2	 Operation 

The Committee has absolute discretion to decide whether the Plan will be operated and those Employees to whom Awards will be made on any
occasion. The Committee has absolute discretion to make Awards under this Plan that are linked to the mandatory deferral of a Bonus and to make Awards that have no link to a Bonus. 

  
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	2.3	 Mandatory deferral of Bonus 

In respect of any Financial Year, the extent to which a Bonus will be mandatorily deferred (if at all) through the grant of an Award under this
Plan, will be: 
  

	 	2.3.1	 to the extent an Employee is required by the Policy to defer their Bonus, in accordance with the terms of the
Policy; and 

  

	 	2.3.2	 in all other cases, as determined by the Committee and communicated to the relevant Employee.

  

	2.4	 Grant of Awards 

Awards will be granted by the Company executing a deed. 
  

	2.5	 Timing of grant 

Awards may only be granted within 42 days commencing on any of the following: 

 

	 	2.5.1	 the day the Committee adopts the Plan; 

 

	 	2.5.2	 the Business Day following the announcement (or, where there is no announcement, publication) of the
Company’s results for the last preceding financial year, half year or other period; or 

  

	 	2.5.3	 if Dealing Restrictions prohibited the making of an Award within any period as mentioned in rules 2.5.1 or
2.5.2, the date that all such Dealing Restrictions cease to apply. 

 Notwithstanding rules 2.5.1 to 2.5.3, but subject to
Dealing Restrictions, Awards may be granted at any time where the Committee resolves that exceptional circumstances exist which justify the grant of Awards. 
  

	2.6	 Administrative errors 

If the Committee purports to grant an Award which is inconsistent with any of the provisions in this Plan, the Award will take effect only to
the extent permissible under this Plan. 
  

	2.7	 Issue of Award Certificate 

As soon as practicable after an Award has been made, the Committee will issue or will procure the issue of an Award Certificate to each
Participant. The Award Certificate may be sent by email or other electronic means. 
  

	2.8	 Form of Award Certificate 

An Award Certificate will be in a form approved by the Committee and may specify: 

 

	 	2.8.1	 the Grant Date; 

  

	 	2.8.2	 the form of Award; 

  

	 	2.8.3	 the number of Shares or ADRs subject to the Award, or the basis on which the number of Shares or ADRs subject
to the Award will be calculated; 

  

	 	2.8.4	 if the Award is subject to any Performance Conditions: 

 

	 	(i)	 details of those Performance Conditions; and 

 

	 	(ii)	 the applicable Performance Period; 

 

	 	2.8.5	 any other conditions applicable to the Award; 

 

	 	2.8.6	 the Vesting Date; 

  

	 	2.8.7	 if the Award will have Dividend Equivalents; 

  
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	 	2.8.8	 if Malus applies to the Award; 

 

	 	2.8.9	 if Clawback applies to the Award and the length of the Clawback Period; 

 

	 	2.8.10	 if the Award is subject to the Restrictive Covenants; 

 

	 	2.8.11	 details of any Holding Period that applies to the Award; and 

 

	 	2.8.12	 where the Committee requires it, that the Participant will enter into a Tax Election. 

 

	2.9	 Awards to directors 

An Award that is to be granted to a director of the Company must not be a Long Term Incentive Scheme for the purposes of the Listing Rules of
the UK Listing Authority. 
  

	2.10	 No payment 

Participants are not required to pay for the grant of any Award. 
  

	2.11	 Acceptance of Award 

The Committee may require a Participant to accept their Award by delivering a duly completed acceptance notice in a form and manner (which may
be electronic), and by such date as, determined by the Committee, and to the extent the Participant does not do so their Award will lapse. 
  

	2.12	 Liability for Taxation 

By participating in the Plan, a Participant agrees they are responsible for and will bear any liability for Taxation. 

 

	3.	 Phantom Awards 

 

	3.1	 Grant of Phantom Awards 

The Committee may from time to time choose to grant an Award as a Phantom Award. 

A Phantom Award will not confer any right on the relevant Participant to receive Shares or any interest in Shares. 

 

	3.2	 Application and interpretation of the Plan 

Where an Award is granted as a Phantom Award, the provisions of this Plan will be interpreted and applied to reflect the fact that Phantom
Awards are granted in respect of notional Shares only and are satisfied in cash only. References to Conditional Awards will include Phantom Awards where relevant. 
  

	3.3	 Holding Period 

If a Holding Period is to apply to a Phantom Award, the Committee will determine how the Holding Period will be operated and will communicate
this to the Participant. 
  

	4.	 Performance Conditions and other conditions 

 

	4.1	 Application of Performance Conditions 

The Committee may determine that the Vesting of an Award will be conditional on the satisfaction of one or more Performance Conditions. Such
determination may apply to Awards made to a particular Employee or category of Employees. 
  

	4.2	 Application of other conditions 

The Vesting of Awards may be subject to other conditions set by the Committee, which may be different for different Employees. 

  
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	4.3	 Requirements of Performance Conditions and other conditions 

Any Performance Condition or other condition applicable to an Award must be objective and specified in the relevant Award Certificate. 

 

	4.4	 Amendment or variation of Performance Conditions or other conditions 

The Committee may amend or vary a Performance Condition or other condition applicable to an Award where an event occurs which causes the
Committee to reasonably consider that the Performance Condition or other condition is no longer appropriate. Any amended or varied Performance Condition or other condition will not be materially less difficult to satisfy than the original
Performance Condition or other condition was intended to be at the Grant Date. 
 Where a Performance Condition or other condition applicable
to an Award is amended or varied in accordance with this rule the Award will then take effect subject to the Performance Condition or other condition as amended or varied. 

The Committee will notify any affected Participant as soon as practicable after any determination made under this rule. 

 

	4.5	 Overarching discretion of the Committee 

Notwithstanding any other provision of this Plan, the Committee, acting reasonably, retains discretion to reduce (including to zero) the amount
of an Award which will Vest on the basis of the wider underlying financial performance of the Group over the Performance Period. 
  

	5.	 Individual limit for Executive Directors 

An executive director of the Company may only participate in the Plan up to the limits set out in the Policy (including in relation to
recruitment, if applicable). If the Committee purports to confer participation in the Plan on terms which are inconsistent with these limits, participation will be deemed to take place only to the extent permissible under this rule. 

 

	6.	 Other terms applicable to Awards 

 

	6.1	 No transfer 

A Participant may not transfer, assign, charge or otherwise dispose of an Award or any rights in respect of it. If they do, whether voluntarily
or involuntarily, then it will immediately lapse. This rule does not apply to the transmission of an Award on the death of a Participant to their personal representatives. 
  

	6.2	 Bankruptcy 

A Participant’s Award will lapse where the Participant becomes bankrupt or enters into a compromise with their creditors generally. 

 

	6.3	 Estimates or indications of performance 

If, prior to Vesting, there is or may be any interim estimate or indication of whether or to what extent a Performance Condition will be met,
such interim estimate or indication will not create any right or expectation that limits: 
  

	 	6.3.1	 the Committee’s discretion to determine whether, and to what extent, a Performance Condition or other
condition applicable to an Award is satisfied; and 

  

	 	6.3.2	 the ability of the Committee to make any adjustments to an Award, or the extent to which an Award will Vest, in
in each case in accordance with the provisions of the Plan. 

  
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	6.4	 Malus 

This rule will apply to an Award if specified in the Award Certificate. 

At any time prior to the date an Award is satisfied, the Committee may decide that the number of Shares subject to that Award will be reduced
(including to nil) on such basis as the Committee in its absolute discretion considers to be fair, reasonable and proportionate where, in the opinion of the Committee, there is an Event relevant to the Participant and/or their Award. In such
circumstances, to the extent reduced, that Award will be treated as having lapsed. The Participant must be notified as soon as reasonably practicable if their Award is reduced under this rule. 

 

	6.5	 Cross-clawback 

The Committee may decide at any time that an Award will lapse in whole or in part to give effect to a clawback provision of any form contained
in any employees’ share plan or Bonus Plan operated by any Member of the Group. The extent to which an Award will lapse will be in accordance with the terms of the clawback provision in the relevant plan or, in the absence of any such term, on
such basis as the Committee considers appropriate. 
  

	7.	 Dividend Equivalents 

The Committee may decide at any time prior to the transfer of the Shares to which a Conditional Award relates that Participants will receive an
amount (in cash and/or additional Shares) equal in value to any dividends that would have been paid on those Shares by reference to dividend record dates falling between the Grant Date and the date on which the Award Vests. This amount may assume
the reinvestment of dividends (on such basis as the Committee may determine) and may exclude or include special dividends and any such amount will be payable as soon as practicable after Vesting of the relevant Award. 

 

	8.	 Vesting of Awards – general rules 

 

	8.1	 Determination of the Committee 

The Committee will, as soon as reasonably practicable after the end of the relevant Performance Period (or, where rules 11 (Leavers) or 12
(Company events) will apply prior to the end of the relevant Performance Period, at the relevant time pursuant to those rules), determine the extent to which any Performance Conditions and any other conditions applicable to an Award have been
satisfied and, consequently, the extent to which that Award will Vest. 
 Insofar as the Committee determines that any Performance Conditions
or such other conditions applicable to the Award are not satisfied and are no longer capable of being satisfied, either in whole or part, the Award will immediately lapse in whole or part (as appropriate). 

 

	8.2	 Vesting – rounding down 

If, due to the application of a Performance Condition or any term of the Award, an Award would otherwise Vest over a fraction of a Share, the
number of Shares in respect of which the Award will Vest will be rounded down to the nearest whole number. 
  

	8.3	 Timing of Vesting – general 

Subject to rules 8.4 (Timing of Vesting – Dealing Restrictions), 8.5 (Timing of Vesting – investigation), 11 (Leavers) and 12
(Company events), an Award will Vest on the later of: 
  

	 	8.3.1	 where relevant, the date the Committee determines the extent to which any Performance Conditions and any other
conditions applicable to that Award have been satisfied pursuant to rule 8.1 (Determination of the Committee); and 

  

	 	8.3.2	 the relevant Vesting Date. 

  
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	8.4	 Timing of Vesting – Dealing Restrictions 

Where an Award would otherwise Vest at a time when Dealing Restrictions would prohibit: 

 

	 	8.4.1	 the delivery, or procurement of the delivery, of Shares or cash (as appropriate) to the Participant; and/or

  

	 	8.4.2	 the Participant from selling Shares to discharge any liability for Taxation, where relevant, such Award will
not Vest until all such Dealing Restrictions cease to apply. 

  

	8.5	 Timing of Vesting – investigation 

Notwithstanding any other provision of this Plan, if an investigation commences or is ongoing regarding whether Malus, Clawback, Cross-clawback
and/or the provisions contained in rule 16 (Restrictive Covenants) should be invoked in respect of a Participant then, unless otherwise determined by the Committee, any unvested Awards held by that Participant will not Vest, if at all, until after
such investigation has been concluded. 
  

	8.6	 Consequences of lapse 

Subject to rule 11.4, to the extent an Award lapses under the Plan, it may not Vest subsequently under any other provision of this Plan. 

 

	9.	 Satisfaction of Awards 

 

	9.1	 Delivery – general 

Subject to the other provisions of this rule, where an Award Vests, as soon as reasonably practicable after such Vesting, the Committee will
arrange for: 
  

	 	9.1.1	 in respect of a Conditional Award, the delivery to the Participant of the number of Shares in respect of which
the Award has Vested; or 

  

	 	9.1.2	 in respect of a Phantom Award, the delivery of a cash sum equal to the aggregate Market Value of such number of
notional Shares in respect of which the Award has Vested. 

  

	9.2	 Delivery – investigation 

Notwithstanding any other provision of this Plan, if an investigation commences or is ongoing regarding whether Malus, Clawback, Cross-clawback
and/or the provisions contained in rule 16 (Restrictive Covenants) should be invoked in respect of a Participant then, unless otherwise determined by the Committee, any Vested but as yet unsatisfied Awards held by that Participant will not be
satisfied, if at all, until after such investigation has been concluded. 
  

	9.3	 Delivery – nominee 

Shares may be delivered to a nominee on behalf of the Participant. 
  

	9.4	 Delivery – Dealing Restrictions 

If the delivery, or the procurement of the delivery, of Shares or cash (as appropriate) would be prohibited by Dealing Restrictions, delivery
will not occur until after such time as all such Dealing Restrictions cease to apply. 
  

	9.5	 Source of Shares 

Awards may be satisfied using Shares purchased in the market. No new Shares may be issued and no Shares may be transferred out of treasury for
the purposes of the Plan. 
  

	9.6	 Shareholder rights 

Where Shares are transferred on the Vesting of a Conditional Award, the Participant will be entitled to all rights attaching to the Shares by
reference to a record date on or after the transfer date. 

  
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	9.7	 Alternative ways to satisfy Awards 

 

	 	9.7.1	 The Committee may decide to satisfy an Award by paying a cash amount equal to the aggregate Market Value of the
Shares in respect of which the Award has Vested. 

  

	 	9.7.2	 The Committee may decide to satisfy an Award (or part of it) by reducing the number of Shares to which the
Participant would otherwise be entitled under the Plan, with the reduction instead being paid as an equivalent amount in cash. 

  

	9.8	 Withholding 

Any Member of the Group or the trustee of any employee benefit trust may withhold such amounts and make such arrangements as it considers
necessary or desirable to meet any liability to pay or account for Taxation. 
 The arrangements referred to in this rule may include
deductions from any cash payment owed to the Participant and/or the sale of Shares acquired on Vesting of the Participant’s Award on behalf of the Participant and the retention of all or part of the sale proceeds to meet such liability. 

 

	10.	 Holding Period 

 

	10.1	 Application of Holding Period 

The Committee may determine that a Holding Period will apply to an Award. Such determination may apply to Awards made to a particular Employee
or category of Employees. 
  

	10.2	 Nature of Holding Period 

During a Holding Period, an Award and the Shares subject to an Award and/or acquired by the Participant following Vesting of the Award, (or any
interest in them) may not be transferred, assigned or otherwise disposed of by or on behalf of the Participant, save for: 
  

	 	10.2.1	 a transfer to the Participant’s personal representative in the event of their death;

  

	 	10.2.2	 a transfer to a nominee on behalf of the Participant; 

 

	 	10.2.3	 a sale in accordance with rule 9.8 (Withholding) or, with the prior agreement of the Company, to fund any
liability for Taxation; 

  

	 	10.2.4	 a transfer in accordance with rule 15 (Clawback) or a reduction of an Award in accordance with rule 6.5
(Cross-clawback), or 

  

	 	10.2.5	 a transfer to an Acquiring Company in connection with a company event (provided for in rule 12 (Company
events). 

 and any such purported action will be invalid and ineffective. 

 

	10.3	 Holding of Shares during the Holding Period 

Where a Holding Period applies to the Shares acquired on the Vesting of an Award, the Committee will determine that the Shares will be held
during the Holding Period either by: 
  

	 	10.3.1	 the Participant, provided they agree not to transfer, assign or otherwise dispose of the Shares (or any
interest in them) during the Holding Period; or 

  

	 	10.3.2	 a nominee on behalf of the Participant, provided that the Participant is subject to a restriction on transfer,
assignment or other disposal of such Shares (or any interest in them) during the Holding Period. 

  

	10.4	 Expiry of the Holding Period 

If the Shares are held by a nominee during the Holding Period, on or shortly following expiry of the Holding Period, the Shares will be capable
of being transferred into the name of the Participant. 

  
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	10.5	 Proof of ownership 

A Participant must provide such proof of continued ownership as the Committee may at any time request. 

 

	11.	 Leavers 

  

	11.1	 Leavers – before Vesting 

Subject to the remaining provisions of this rule, where a Participant ceases to be employed within the Group before their Award has Vested,
their Award will lapse on the date they cease to be so employed. 
  

	11.2	 Good leavers 

If a Participant ceases to be employed within the Group, after at least 6 months from the Grant Date (unless the Committee determines
otherwise), due to: 
  

	 	11.2.1	 injury, ill health or disability (in each case, evidenced to the satisfaction of the Committee);

  

	 	11.2.2	 death; 

  

	 	11.2.3	 retirement with the agreement of the Committee; or 

 

	 	11.2.4	 any other reason, determined at the discretion of the Committee, their Award will: 

 

	 	11.2.5	 in the event of retirement (in accordance with rule 11.2.3): 

 

	 	(i)	 Vest on the original Vesting Date unless the Committee determines otherwise; and 

 

	 	(ii)	 only Vest to the extent prescribed in rule 11.3 (Good leavers – extent of Vesting). 

 

	 	11.2.6	 in the event of death (in accordance with 11.2.2): 

 

	 	(i)	 Vest on the date of death, or a later date determined by the Committee; and 

 

	 	(ii)	 Vest in full, notwithstanding any Performance Conditions or other conditions applicable to the Award.

  

	 	11.2.7	 in the event of any of the other reasons set out in rule 11.2 (Good leavers): 

 

	 	(i)	 Vest on the date which is 30 days after the date on which they cease to be employed within the Group, or a
later date determined by the Committee; and 

  

	 	(ii)	 only Vest to the extent prescribed by rule 11.3 (Good leavers – extent of Vesting). 

 

	11.3	 Good leavers – extent of Vesting 

If this rule applies, an Award will Vest: 
  

	 	11.3.1	 to the extent to which any Performance Condition is satisfied in accordance with its terms or, if it is not
possible to measure the Performance Condition at that time because Vesting has been accelerated in accordance with rule 11.2 (Good leavers) , in such manner as the Committee considers reasonable; and 

 

	 	11.3.2	 to the extent that any other conditions applicable to the Award have been satisfied to the extent this is
required by the Committee; and 

  
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	 	11.3.3	 unless the Committee determines otherwise, pro rata to the last completed calendar month, so that it reflects
only the proportion of: 

  

	 	(i)	 the Vesting period (i.e. from the Grant Date to the original Vesting Date) which has elapsed before the
Participant ceases to be employed within the Group; or 

  

	 	(ii)	 where the grant of an Award was preceded by a period during which performance targets were measured as a pre-cursor to the granting of an Award (a pre-grant performance period), the period from the start of the pre-grant performance period,
prior to the Grant Date, to the original Vesting Date which has elapsed before the Participant ceases to be employed within the Group, and to the extent the Participant’s Award does not Vest, it will then lapse. 

 

	11.4	 Leavers - re-employed 

If a Participant ceases to be employed within the Group before their Award has Vested, but is
re-employed by a Member of the Group within 30 days of the date of cessation of employment (or such other period as the Committee determines) the Committee may determine that a Participant’s Award will be
treated as if it had not lapsed under rule 11.1. 
  

	11.5	 Leavers – Holding Period 

Save where rule 11.2.2 (death) applies, where a Participant ceases to be employed within the Group, any Holding Period will continue to apply
until its expiry in accordance with the provisions of the Plan and the terms of the Award, except that the Committee may determine that the Holding Period will no longer apply where a Participant ceases to be employed within the Group for one of the
reasons set out in rule 11.2 (Good leavers). 
  

	11.6	 Leavers – after Vesting 

If a Participant ceases to be employed within the Group after their Award has Vested but before their Award has been satisfied, their Award
will continue in accordance with the provisions of this Plan. 
  

	11.7	 Meaning of “ceases to be employed within the Group” 

For the purposes of this rule 11 (Leavers), unless the Committee determines otherwise, a Participant will not be treated as ceasing to be
employed within the Group until they cease to hold any office or employment with any Member of the Group or, if earlier, when they give, or are given, notice to terminate all offices and employment (as applicable) within the Group. 

For the purposes of this rule, “Member of the Group” and “Group” includes any associated company nominated for this purpose
by the Committee. 
  

	12.	 Company events 

 

	12.1	 Company events – extent of Vesting 

If this rule applies to an Award, it will Vest: 
  

	 	12.1.1	 to the extent that any Performance Conditions have been satisfied as measured over the original Performance
Period or such other period as the Committee may determine to be appropriate; 

  

	 	12.1.2	 to the extent that any other conditions applicable to the Awards have been satisfied to the extent this is
required by the Committee; and 

  

	 	12.1.3	 pro rata to reflect the period from the Grant Date until the date of Vesting, as a proportion of the period
from the Grant Date until the Vesting Date, unless the Committee decides otherwise, and to the extent the Participant’s Award does not Vest, it will then lapse. 

  
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	12.2	 Takeovers 

Where a person obtains Control of the Company as a result of making an offer to acquire Shares, an Award will Vest on the date the person
obtains Control in accordance with rule 12.1 (Company events – extent of Vesting). 
  

	12.3	 Bound or entitled 

Where a person becomes bound or entitled to acquire shares in the Company under Part 18 of the Companies Law, Awards will Vest on the date the
person becomes so bound or entitled in accordance with rule 12.1 (Company events – extent of Vesting). 
  

	12.4	 Scheme of arrangement 

When a court sanctions a compromise or arrangement under Article 125 of the Companies Law, Awards will Vest on the date of the court sanction
in accordance with rule 12.1 (Company events – extent of Vesting). 
  

	12.5	 Winding up 

If notice is given of a resolution for the voluntary winding-up of the Company, Awards will Vest on the
date the notice is given in accordance with rule 12.1 (Company events – extent of Vesting). 
  

	12.6	 Persons acting in concert 

For the purposes of this rule 12 (Company events) and rule 13 (Exchange of Awards), a person will be treated as obtaining Control of the
Company if that person and others acting in concert together obtain Control of it. 
  

	12.7	 Holding Period 

Subject to rule 13 (Exchange of Awards), any Holding Period applicable to an Award or any Shares that have been or will be acquired following
Vesting of an Award will no longer apply from the date that Awards Vest under any provision in this rule 12 (Company events), unless the Committee determines otherwise (in which case the Committee will determine the terms that will continue to
apply). 
  

	12.8	 Restrictive Covenants 

Restrictive Covenants, applicable to an Award or Shares that have been or will be acquired following Vesting of an Award, will continue to
apply following the date that Awards Vest under any provision in this rule 12 (Company events), unless the Committee determines otherwise. 
  

	12.9	 Meaning of Committee 

For the purposes of this rule 12 (Company events) and rule 13 (Exchange of Awards), “Committee” means those people who were members
of the Compensation Committee or such other committee of the Board immediately before the relevant event. 
  

	13.	 Exchange of Awards 

 

	13.1	 When Awards may be exchanged 

Where an event as specified in rules 12.2 (Takeovers) 12.3 (Bound or entitled) or 12.4 (Scheme of arrangement) occurs and: 

 

	 	13.1.1	 the Participant has agreed with the Acquiring Company that they will exchange their Award for a New Award; or

  
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	 	13.1.2	 the Acquiring Company consents and substantially all the shareholders of the Company immediately before the
relevant event has occurred will continue to have Control of the Company immediately thereafter, that Award (or, in the case of rule 13.1.2, all Awards) will not Vest under rules 12.2 (Takeovers), 12.3 (Bound or entitled) or 12.4 (Scheme of
arrangement), as appropriate, but will be exchanged for New Awards. 

  

	13.2	 Requirements for a New Award 

Where a Participant is granted a New Award in exchange for an existing Award, the New Award: 

 

	 	13.2.1	 must confer a right relating to shares in the Acquiring Company or another body corporate determined by the
Acquiring Company; 

  

	 	13.2.2	 must be substantially equivalent to the Award; 

 

	 	13.2.3	 is treated as having been acquired at the same time as the Award and Vests and lapses in the same manner and at
the same time; 

  

	 	13.2.4	 unless the Committee decides otherwise, must be subject to any Performance Conditions and any other conditions
(including Malus and, where relevant, Restrictive Covenants, Clawback and a Holding Period), which are, so far as possible, equivalent to any Performance Conditions and other conditions applicable to the Award; and 

 

	 	13.2.5	 is governed by the Plan as if references to Shares were references to the shares over or in respect of which
the New Award is granted and references to the Company were references to the Acquiring Company or the body corporate determined under rule 13.2.1. 

  

	13.3	 Shares subject to a Holding Period on exchange 

Unless the Committee determines otherwise, where an Award has Vested but a Holding Period continues to apply, if Shares are exchanged for new
shares in the Acquiring Company, for the purposes of this Plan the new shares shall be subject to terms equivalent to those applicable to the existing Shares, including in relation to the Holding Period, and the Participant shall enter into such
documentation and/or arrangements as required by the Committee to bring this into effect. 
  

	14.	 Variations in share capital 

 

	14.1	 Adjustments to Awards 

If there is: 
  

	 	14.1.1	 a variation in the equity share capital of the Company, including a capitalisation or rights issue, sub-division, consolidation or reduction of share capital; 

  

	 	14.1.2	 a demerger (in whatever form) or exempt distribution by virtue of section 1075 of the UK Corporation Tax Act
2010; 

  

	 	14.1.3	 a special dividend or distribution; or 

 

	 	14.1.4	 any other transaction which will materially affect the value of Shares, the Committee may adjust the number or
class of Shares subject to an Award in such manner as the Committee may consider appropriate. 

  

	14.2	 Notice to Participants 

The Committee will notify Participants of any adjustment made under this rule. 

  
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	15.	 Clawback 

  

	15.1	 Application of rule 

This rule 15 (Clawback) will apply if specified in the Award Certificate. 

 

	15.2	 Clawback Adjustment 

Where, in the opinion of the Committee, there is an Event during the Clawback Period relevant to a Participant and/or their Award, the
Committee may in its discretion require a Clawback Adjustment. 
  

	15.3	 Amount of Clawback Adjustment 

A Clawback Adjustment will be of an amount that the Committee considers to be fair, reasonable and proportionate. 

When determining the amount of a Clawback Adjustment, the Committee may consider all relevant factors. 

 

	15.4	 Recovery 

The Committee may in its discretion choose any method to recover the amount of the Clawback Adjustment from the Participant, including (but not
limited to): 
  

	 	15.4.1	 requiring the Participant to make a payment in cash or shares to, or to the order of, the Company or such
person as the Committee decides; 

  

	 	15.4.2	 reducing (including to nil) the Vesting of any of the Participant’s unvested Awards, or the vesting of any
unvested share award, share option or cash award granted to the Participant under any other employee share plan operated by any Member of the Group (except any plan intended to comply with Schedules 2, 3 or 4 of ITEPA); 

 

	 	15.4.3	 reducing the number of Shares or amount of cash (as appropriate) which may be acquired by the Participant in
respect of any Vested but as yet unsatisfied Award, or the number of shares or amount of cash (as appropriate) which may be acquired by the Participant in respect of a vested but as yet unsatisfied share award, share option or cash award granted to
the Participant under any other employee share plan operated by any Member of the Group (except any plan intended to comply with Schedules 2, 3 or 4 of ITEPA); 

 

	 	15.4.4	 reducing the amount of or deducting an amount from any current or future salary, cash bonus or other payments
that would otherwise be payable to the Participant; and/or 

  

	 	15.4.5	 reducing the value of any shares or cash over which a future Award or share award, share option or cash award
under any other employee share plan operated by any Member of the Group (except any plan intended to comply with Schedules 2, 3 or 4 of ITEPA) is granted to the Participant. 

 

	15.5	 Notification to the Participant 

A Participant must be notified as soon as reasonably practicable if a Clawback Adjustment is required. 

 

	15.6	 Reduction of Awards 

Where a Clawback Adjustment results in the reduction of Shares or cash which may be acquired in respect of an Award, the Award will, to the
extent reduced, be treated as having lapsed. 
  

	15.7	 Obligations of the Participant 

A Participant will provide any information, documentation and undertakings and take all actions that the Committee reasonably believes it may
require in connection with this rule 15 (Clawback). 

  
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	16.	 Restrictive Covenants 

 

	16.1	 Application of rule 

This rule 16 (Restrictive Covenants) will apply if specified in the Award Certificate. 

 

	16.2	 Determination of breach 

Where, in the opinion of the Committee, a Participant has breached paragraph 1 of Schedule 3 (Restrictive Covenants), rule 16.3 (Breach before
Award satisfied) or rule 16.4 (Breach after Award satisfied), as applicable, shall apply. 
  

	16.3	 Breach before Award satisfied 

If the Participant’s Award has not yet been satisfied (whether or not it has Vested), their Award will immediately lapse in full and they
will no longer have any right to receive any Shares or cash (as applicable) in relation to it. 
  

	16.4	 Breach after Award satisfied 

If the Participant’s Award has been satisfied, the Committee may in its discretion require a Clawback Adjustment, in which case rules 15.3
(Amount of Clawback Adjustment) to 15.6 (Reduction of Awards), inclusive, will apply. 
  

	16.5	 Obligations of the Participant 

A Participant will provide any information, documentation and undertakings and take all actions that the Committee reasonably believes it may
require in connection with this rule 16 (Restrictive Covenants). 
  

	17.	 General 

  

	17.1	 Dealing Restrictions 

The Company, the Committee, any Member of the Group, Employees and Participants will have regard to Dealing Restrictions when (in each case, as
appropriate) operating, interpreting, administering, participating in and taking any and all such other action in relation to, or contemplated or envisaged by, the Plan. 
  

	17.2	 Terms of employment 

 

	 	17.2.1	 For the purposes of this rule, “Employee” means any employee (existing or former) of a Member
of the Group (existing or former). 

  

	 	17.2.2	 This rule applies during an Employee’s employment and after the termination of an Employee’s
employment, whether or not the termination is lawful. 

  

	 	17.2.3	 Nothing in the provisions of the Plan, or the operation of the Plan, forms part of the contract of employment
of an Employee. The rights and obligations arising from the employment relationship between the Employee and the relevant Member of the Group are separate from, and are not affected by, the Plan. Participation in the Plan does not create any right
to, or expectation of, continued employment. 

  

	 	17.2.4	 No Employee has a right to participate in the Plan. Participation in the Plan or the grant of Awards on a
particular basis in any year does not create any right to or expectation of participation in the Plan or the grant of Awards on the same basis, or at all, in any future year. 

 

	 	17.2.5	 The terms of the Plan do not entitle the Employee to the exercise of any discretion in their favour.

  
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	 	17.2.6	 The Employee will have no claim or right of action in respect of any decision, omission or discretion, which
may operate to the disadvantage of the Employee, even if it is unreasonable, irrational or might otherwise be regarded as being in breach of the duty of trust and confidence (and/or any other implied duty) between the Employee and their employer or
former employer. 

  

	 	17.2.7	 No Employee has any right to compensation or damages for any loss (actual or potential) in relation to the
Plan, including any loss in relation to: 

  

	 	(iii)	 any loss or reduction of rights or expectations under the Plan in any circumstances (including lawful or
unlawful termination of employment); 

  

	 	(iv)	 any exercise of a discretion or a decision taken in relation to an Award or to the Plan, or any failure to
exercise a discretion or take a decision; or 

  

	 	(v)	 the operation, suspension, termination or amendment of the Plan. 

 

	 	17.2.8	 By participating in the Plan, a Participant: 

 

	 	(vi)	 accepts all the provisions of this Plan, including this rule 17.2 (Terms of employment); and

  

	 	(vii)	 waives all rights which might otherwise arise in connection with the Plan, other than the right to acquire
Shares or cash (as appropriate) subject to and in accordance with the express terms of the Plan, in consideration for, and as a condition of, the grant of an Award. 

 

	17.3	 Not pensionable 

None of the benefits received under the Plan are pensionable. 
  

	17.4	 Costs 

The Company and/or any Subsidiary will pay the costs of introducing and administering the Plan. 

 

	17.5	 Data protection 

The Company’s data policy and data privacy notice will apply to the processing of personal data. 

 

	17.6	 Consents 

All allotments, issues and transfers of Shares will be subject to the Company’s Articles of Association and any necessary consents under
any relevant enactments or regulations for the time being in force in the UK or elsewhere. The Participant will be responsible for complying with any requirements they need to fulfil in order to obtain or avoid the necessity for any such consent.

  

	17.7	 Notices 

  

	 	17.7.1	 Any notice or communication to be given to any Employee or Participant may be delivered by electronic mail
(including on an intranet, portal or by SMS text message), or personally delivered or sent by ordinary post to such address as the Company considers appropriate. 

 

	 	17.7.2	 Any notice or communication to be given to the Company or its duly appointed agent may be delivered or sent to
its registered office or such other place and by such means as the Company or its appointed agent may specify and notify to Employees and/or Participants. 

  

	 	17.7.3	 Notices or communications sent electronically will be deemed to have been received at the time of transmission
unless there is evidence to the contrary. Notices or communications personally delivered will be deemed to have been received upon delivery and those sent by post will be deemed to have been received 24 hours after posting nationally and 3 days
after posting internationally. 

  
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	17.8	 Third party rights 

Except as otherwise expressly stated to the contrary, nothing in the Plan confers any benefit, right or expectation on a person who is not a
Participant or a Member of the Group. No such third party has any rights under the UK Contracts (Rights of Third Parties) Act 1999 or any equivalent local legislation to enforce any term of this Plan. 

 

	18.	 Administration 

 

	18.1	 Committee’s powers 

The Committee will administer the Plan. The Committee has authority to make rules and regulations for the administration of the Plan. The
Committee may delegate all or any of its rights and powers under the Plan. 
  

	18.2	 Provisions of the Plan 

If any provision of the Plan is held to be invalid, illegal or unenforceable for any reason by any court of competent jurisdiction, for the
purposes of that jurisdiction: 
  

	 	18.2.1	 such provision will be treated as severed; and 

 

	 	18.2.2	 the remainder of the provisions of the Plan will continue in full force and effect as if the Plan had been
established without the inclusion of the severed provision, unless the Committee determines otherwise. 

  

	18.3	 Committee’s decisions final and binding 

All determinations or decisions of the Committee are final and binding in all respects. If any question or dispute arises as to the
interpretation of the Plan, any rules, regulations or procedures relating to the Plan and/or in relation to an Award or any other matter relating to the Plan, the decision of the Committee will be conclusive. 

 

	19.	 Changing the Plan and termination 

 

	19.1	 Committee’s powers 

Except as described in the rest of this rule, the Committee may at any time change the Plan in any way. 

 

	19.2	 Participant consent 

If the Committee proposes an amendment to the Plan which would be to the material disadvantage of Participants in respect of subsisting rights
under the Plan, then: 
  

	 	19.2.1	 the Committee must invite each so disadvantaged Participant to indicate whether or not they approve the
amendment; and 

  

	 	19.2.2	 such amendment will only take effect in respect of subsisting rights under the Plan if the majority of the
Participants who make such an indication approve the amendment. 

  

	19.3	 Notice 

The Committee may (but is not obliged to) give written notice of any changes made to the Plan to any Participant affected. 

 

	19.4	 Termination of the Plan 

No Award may be granted after [    ] 2028 but the Committee may terminate the Plan at any earlier time. Termination will
not affect subsisting rights under the Plan. 

  
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	20.	 Governing law, jurisdiction and language 

 

	 	20.1.1	 The laws of England and Wales govern the Plan and all Awards and their construction. The courts of England and
Wales have non-exclusive jurisdiction in respect of disputes arising under or in connection with the Plan or any Award. 

 

	 	20.1.2	 In relation to the Plan and any documents relating to or concerning it, the English language version of the
documents will prevail, so that if there is any conflict between the terms or provisions of a document in English and the same document in another language, the document in English will take precedence. 

  
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 Schedule 1: US 

 

	1.	 Purpose 

The purpose of this Schedule 1 is to alter the provisions of the Plan solely for Awards granted to US Taxpayers to reflect the terms necessary
or advisable for such Awards to qualify for an exemption from the requirements of Section 409A. References to the Plan, or to the rules, in the main rules of the Plan shall be interpreted to include this Schedule 1 in relation to US Taxpayers.

  

	2.	 Application of this Schedule 

This Schedule 1 shall apply to all Employees and Participants who are US Taxpayers. In the event that a Participant becomes a US Taxpayer
subsequent to the Grant Date of an Award under the Plan, then such Award shall immediately be amended in a manner consistent with this Schedule 1. References in this Schedule 1 to Awards granted to US Taxpayers shall include Awards held by a
Participant who becomes a US Taxpayer subsequent to the Grant Date. 
  

	3.	 Definitions 

Certain words and expressions used in this Schedule 1 which have initial capital letters have the meanings set out below. Other words and
expressions used in this Schedule 1 which have initial capital letters that are not set forth below have the meanings set out in the Plan. 

Section 409A means Section 409A of the US Internal Revenue Code of 1986, as amended, and the US Treasury
Regulations promulgated and other official guidance issued thereunder, collectively. 
 Short-Term Deferral Period means the period
commencing on the date that an Award (or portion thereof) first is no longer subject to a “substantial risk of forfeiture” for the purposes of Section 409A and ending upon the 15th day of the third month following the end of the
Taxable Year in which such Award first is no longer subject to the substantial risk of forfeiture. 
 Taxable Year means the calendar
year, or, if later, the end of the taxable year of the Member of the Group that employs the US Taxpayer, in which the Award first is no longer subject to a substantial risk of forfeiture for the purposes of Section 409A. 

US means the United States of America. 

US Taxpayer means an Employee or Participant who is subject to US federal income taxation on the Grant Date of an Award, is expected to
become subject to US federal income taxation following the Grant Date of the Award or does become subject to US federal income taxation following the Grant Date of the Award but prior to the date upon which any part of the Award Vests. 

 

	4.	 Satisfaction 

  

	4.1	 Subject to paragraph 4.2 below, but notwithstanding any other provision of the Plan (including, but not limited
to, rule 8.4 (Timing of Vesting – Dealing Restrictions), rule 8.5 (Timing of Vesting – investigation), rule 9.1 (Delivery – general), rule 9.2 (Delivery – investigation) and rule 9.4 (Delivery – Dealing Restrictions), the
satisfaction of an Award (or portion thereof) granted to a US Taxpayer, whether in Shares or in cash, shall be made no later than the end of the Short-Term Deferral Period. 

 

	4.2	 In the event that the Vesting, delivery of Shares, or the procurement thereof of an Award (or portion thereof)
granted to a US Taxpayer has not been made by the end of the Short-Term Deferral Period due to the circumstances described in rule 8.4 (Timing of Vesting – Dealing Restrictions) or rule 9.4 (Delivery - Dealing Restrictions) applying to the
Award, then to the extent permissible under 

  
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Section 1.409A-1(b)(4)(ii) of the US Proposed Treasury Regulations (regarding the delay permitted if Vesting or payment would violate applicable law),
such Vesting and delivery of Shares or cash in the settlement of the Award (or portion thereof) may be delayed so long as the Award is then satisfied at the earliest date at which it is reasonably anticipated that the relevant Dealing Restrictions
cease to apply. 

  

	4.3	 In the event of the satisfaction of an Award (or portion thereof) granted to a US Taxpayer before the end of
the applicable Short-Term Deferral Period, but before the original Vesting Date of the Award (or portion thereof) or the end of an applicable Holding Period, the US Taxpayer may not transfer, assign, charge or create any other security interest over
or otherwise dispose of the Shares or cash received from the settlement of the Award (or portion thereof) or any rights in respect thereof. If after the end of the Short-Term Deferral Period, the Award (or portion thereof) does not Vest, then the
Shares or cash received from the settlement of the Award (or portion thereof) which did not Vest will be immediately forfeited, and returned to the Company. If the US Taxpayer attempts to transfer, assign, charge or create any other security
interest over or otherwise dispose of the Shares or cash received from the settlement of the Award (or portion thereof) or any rights in respect thereof, whether voluntarily or involuntarily, before the end of an applicable Holding Period, then the
Shares or cash received from the settlement of the Award (or portion thereof) will be immediately forfeited, and returned to the Company. 

  

	4.4	 For the avoidance of doubt, nothing in this paragraph 4 (Satisfaction) shall limit or impair any Holding Period
applicable to the Shares or cash received from the satisfaction of an Award. 

  

	4.5	 Dividend equivalent payment 

 

	4.6	 In the event that an Award (or portion thereof) granted to a US Taxpayer includes a right to Dividend
Equivalents under rule 7 (Dividend Equivalents), any Dividend Equivalents payment to be made on such Award shall be made no later than the end of the Short-Term Deferral Period applicable to such Dividend Equivalents, or, if later, the end of the
extended period provided by paragraph 4.2 of this Schedule 1. 

  

	5.	 Changes to conditions 

Other than to waive it, a condition applicable to an outstanding Award granted to a US Taxpayer may not be amended pursuant to rule 4.4
(Amendment or variation of Performance Conditions or other conditions), or any other provision of the Plan, if and to the extent that the amendment of the condition would result in the earlier ending of the applicable Short-Term Deferral Period.

  

	6.	 Exchange of Awards 

Where there is to be an exchange of a US Taxpayer’s Award pursuant to rule 13 (Exchange of Awards), the Committee shall attempt to
structure the terms of the exchange and the New Award such that neither the exchange nor the New Award violate Section 409A. 
  

	7.	 Changing terms of Awards of US Taxpayers 

Notwithstanding rule 19.2 (Participant Consent), the Committee need not obtain the approval of Participants for any changes to Awards that were
granted to US Taxpayers which are necessary or desirable in order for the Awards to avoid a violation of Section 409A. 
  

	8.	 Interpretation and administrative intent 

Awards granted, and Dividend Equivalents payable, to US Taxpayers are intended to be exempt from the requirements of Section 409A under
the short-term deferral exception described in Section 1.409A-1(b)(4) of the US Treasury Regulations, and the Plan and this Schedule 1 shall be 

  
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interpreted and administered consistent with such intention. For the avoidance of doubt, any delay in the Vesting of an Award pursuant to rule 8.4 (Timing of Vesting – Dealing Restrictions)
or rule 8.5 (Timing of Vesting – investigation), or the fact that a Holding Period pursuant to rule 10 (Holding Period) or clawback provisions pursuant to rule 15 (Clawback) or rule 16 (Restrictive Covenants) or Schedule 3 (Restrictive
Covenants) may be applied to an Award, will not impose an additional, or extend the existing, substantial risk of forfeiture applicable to such Award for the purposes of Section 409A. 

In the event of any conflict between an applicable provision of the Plan and an applicable provision of this Schedule 1 with respect to an
Award granted to a US Taxpayer, the provision of this Schedule 1 shall apply. 
  

	9.	 No liability 

Each US Taxpayer is solely responsible and liable for the satisfaction of all taxes, penalties and interest that may be imposed on the US
Taxpayer in connection with the Plan and/or this Schedule 1 or any Award, including any taxes, penalty and/or interest under Section 409A. No Member of the Group shall have any obligation to indemnify or otherwise hold the US Taxpayer harmless
from any or all of such taxes, penalty or interest. 

  
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 Schedule 2: France 

This Schedule 2 sets out the terms and conditions applicable to the Plan whereby Awards will be granted to Employees who are employed at the Grant Date by
a Member of the Group whose registered office is in France (the “French Member of the Group”), (the “Eligible French Employees”). 

The purpose of this French Schedule is to amend the terms of the Plan only to the extent necessary in order to satisfy French securities laws, exchange
control, corporate law and tax requirement in order for the Awards granted to Eligible French Employees pursuant to this Schedule 2 to benefit from the specific French income tax and social security treatment (the “Qualified
Awards”). 
  

	1.	 General 

  

	1.1	 Definitions 

Additional definitions are as follows 

“Closed Period” is a Dealing Restriction period defined by Article L. 225-197-1 of the French Commercial Code as: 
  

	 	(i)	 ten quotation days preceding and three quotation days following the disclosure to the public of the
consolidated financial statements or the annual statements of the Company; or 

  

	 	(ii)	 any period during which the corporate management of the Company possesses material information which could, if
disclosed to the public, significantly impact the quotation of the Company, until ten quotation days after the day such information is disclosed to the public. 

 

	1.2	 Application of the rules of the Plan 

The rules of the Plan will apply to Qualified Awards made under this Schedule 2, as amended by the terms of this Schedule 2. 

This Schedule 2 does not amend, add or otherwise alter the Plan as it applies to other Awards than the Qualified Awards. 

References to rules are deemed references to the main rules of the Plan. 

In the event of any conflict, whether explicit or implied, between the provisions of this Schedule 2 and the rules of the Plan, the provisions
of this Schedule 2 shall override the rules of the Plan. 
  

	2.	 Qualified Awards 

 

	2.1	 Grant of Awards 

The rules of the Plan, the terms of this Schedule 2 and the terms and conditions applicable to Qualified Awards shall be interpreted and, where
necessary, deemed to be modified in order to satisfy the relevant provisions to qualify for the French specific income tax and social security treatment. 
  

	2.2	 No liability 

No Member of the Group shall be liable for any adverse consequence, whether legal, tax or otherwise, if and to the extent the Qualified Awards
do not qualify for such specific French income tax and social security treatment. 
  

	2.3	 Liability for Taxation 

The Company and any French Member of the Group may make such arrangements as it considers necessary to meet any Taxation liability of the
Participant, whether the liability is a liability of, or is payable by, the Participant, the Company or any the Member of the Group. 

  
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	3.	 Phantom Awards 

Phantom Awards granted under the Plan cannot be Qualified Awards. 
  

	4.	 Individual limit for Executive Directors 

No Qualified Awards can be granted to an Eligible French Employee who: 

 

	 	(i)	 holds directly or indirectly, more than ten percent (10%) of the outstanding Shares of the Company; or

  

	 	(ii)	 would, as a result of a grant of a Qualified Award, hold more than ten percent (10%) of the outstanding Shares
of the Company. 

 Any Eligible French Employee who, on the Grant Date of a Qualified Award, and to the extent required
under French law, is employed under the terms and conditions of an employment contract (“contrat de travail”) by a French entity or who is a corporate officer of a French Member of the Group, shall be eligible to receive, at the discretion
of the Company or the empowered corporate body, Qualified Awards under the Plan as adjusted to meet the requirements of the French Code de Commerce. 
  

	5.	 Bankruptcy 

The Participant Award cannot lapse where the Participant becomes bankrupt. Rule 6.2 (Bankruptcy) of the Plan does not apply. 

 

	6.	 Dividend Equivalents 

Qualified Awards granted in accordance with this Schedule shall not carry any entitlement to Dividend Equivalents settled in any other means
but in cash. For the Eligible French Employees, such Dividend Equivalents will be treated as a salary for social charges and income tax purposes. 
  

	7.	 Vesting of Awards 

The determination by the Committee of the extent to which the Performance Conditions is satisfied cannot lead to a Vesting Date which is less
than 2 years from the Grant Date. 
  

	8.	 Satisfaction of Awards 

Qualified Awards granted in accordance with this Schedule 2 shall not be satisfied in cash and may only be settled in Shares. Rule 9.7
(Alternative ways to satisfy) of the Plan does not apply to Qualified Awards. 
  

	9.	 Holding Period 

As a reminder, provided that the Vesting Date is not less than 2 years as set forth in Article 7 above, there is no necessity for the Committee
to provide for a Holding Period. 
  

	10.	 Leavers 

In the event of death (in accordance with rule 11.2.2), the Participant’s personal representative may ask for an immediate Vesting within
a maximum period of 6 months following the Participant’s death. The determination of the Vesting Date by the Committee (in accordance with rule 11.2.8(i)) shall not exceed such period. 

  
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 The Vesting Date set forth in rule 11.2.9 (i) cannot be less than 2 years from the Grant
Date. 
  

	11.	 Company events 

The accelerated Vesting as set forth in rule 12.2 (Takeovers) of the Plan in case of takeover cannot lead to a Vesting Date that would be less
than 2 years from the Grant Date as set forth in Paragraph 7 of this Schedule 2. 
 Notwithstanding the foregoing, should the Vesting Date be
between 1 and 2 years from the Date of Grant, the Participant would then be required to hold the Shares for a period of no less than 1 year. 
  

	12.	 Clawback 

The reduction of the Participant’s salary as a method chosen by the Committee to recover the amount of the Clawback Adjustment from the
Participant pursuant to rule 15.4 (Recovery) of the Plan shall be limited to the frame set forth by French laws, which depends on the Participant’s personal situation. 
  

	13.	 Data Protection 

Pursuant to French laws, when becoming Participants, the Eligible French Employees have a right to access and amend personal data they provide
to the Company and/or the Member of the Group in the context of the Plan. 

  
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 Schedule 3: Restrictive Covenants 

This Schedule 3 (Restrictive Covenants) sets out the Restrictive Covenants that will apply to a Participant if specified to do so in the Participant’s
Award Certificate. 
 By participating in the Plan, a Participant may profit from and participate in the equity value of the Company. The purpose of
this Schedule 3 (Restrictive Covenants) is to protect the legitimate business interests of the Company and the Group. 
  

	1.	 Covenants 

By participating in the Plan, a Participant undertakes with the Company, on behalf of itself and as agent for each Relevant Group Company, that
the Participant will not in any Relevant Capacity at any time during the Restricted Period: 
  

	1.1	 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; or 

 

	1.2	 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 

 

	1.3	 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 

  

	1.4	 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 

  

	1.5	 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 their contract of employment by doing so); or 

  

	1.6	 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 Competing Business or any Person which is or is proposed to be directly or indirectly owned by or controlling any Competing Business; or 

 

	1.7	 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 

  

	1.8	 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 

  

	1.9	 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 

 

	1.10	 encourage, assist or procure any Person to do anything which if done by that Participant would be a breach of
paragraphs 1.1 to 1.9 of this Schedule 3 (Restrictive Covenants) (or any of them). 

  
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	2.	 Social Media 

Connecting or reconnecting to Clients, Suppliers or Prospects using Social Media during the Restricted Period may amount to a breach of
paragraphs 1.1 to 1.10 of this Schedule 3 (Restrictive Covenants). 
  

	3.	 Reasonable and Severable 

By participating in the Plan, a Participant agrees that the restrictions (whether taken individually or as a whole) in paragraph 1 of this
Schedule 3 (Restrictive Covenants) are reasonable, having regard to the legitimate protectable interests of the Company and each Relevant Group Company, and that each such restriction is intended to be separate and severable. In the event that any
restriction is held to be void but would be valid if part of its wording was deleted, that restriction will apply with whatever deletions are necessary to make it valid and effective. 

 

	4.	 Equitable Relief 

By participating in the Plan, a Participant agrees that: 
  

	4.1	 damages shall be an inadequate remedy in the event of a breach by that Participant of any of the restrictions
contained in paragraph 1 of this Schedule 3 (Restrictive Covenants) and that any such breach by that Participant or on that Participant’s behalf will cause the Company and any Relevant Group Company great and irreparable injury and damage; and

  

	4.2	 the Company and/or any Relevant Group Company will therefore be entitled, without waiving any additional rights
or remedies otherwise available to them 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 that Participant, or on that Participant’s behalf, of any of the
restrictions contained in paragraph 1 of this Schedule 3 (Restrictive Covenants). 

  

	5.	 Conflict 

If there is any conflict between a paragraph in this Schedule 3 (Restrictive Covenants) and a rule of the Plan or the terms of a
Participant’s employment contract, the paragraph in this Schedule 3 (Restrictive Covenants) will take precedence. 
  

	6.	 Definitions 

The definitions in the Plan shall have the same meaning in this Schedule 3 (Restrictive Covenants), unless expressly stated otherwise. For the
purposes of this Schedule 3 (Restrictive Covenants) the following additional definitions will also 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 a Participant had material involvement or for whose business a Participant was
responsible or about which a Participant acquired material Confidential Information, in the course of the Participant’s office or 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 a Participant had material dealings or responsibility on behalf of the Company or any Relevant Group Company or about which a Participant acquired material
Confidential Information, during the course of the Participant’s office or employment, at any time during the Relevant Period; 

  
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 “Confidential Information” means trade secrets and confidential
information; 
 “Effective Date” means the Termination Date or (if earlier) the date on which a Participant commences Garden
Leave; 
 “Garden Leave” means any period during which the Company or Relevant Group Company exercises its discretion to
require a Participant not to work; 
 “Key Individual” means any individual who was employed by the Company or any Relevant
Group 
 Company to provide services personally at the Effective Date and who, in the course of their duties, during the Relevant Period had
material dealings with the Participant and either: 
  

	 	(i)	 reported directly to the Participant and had material contact with clients or suppliers of the Company or any
Relevant Group Company in the course of their employment; or 

  

	 	(ii)	 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; 

 “Person” means any
individual, firm, company or other entity; 
 “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 where a Participant was materially involved or had responsibility for
such negotiations or discussions or acquired material Confidential Information in relation to such negotiations or discussions, in the course of the Participant’s office or employment, at any time during the Relevant Period; 

“Recognised Investment Exchange” means an investment exchange recognised by the Financial Conduct Authority under Part XVIII
of the UK Financial Services and Markets Act 2000, such that a recognition order is in force in respect of it; 
 “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 a Participant’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 Member of the Group to which a Participant rendered services or for which a Participant had
management or operational responsibility during the course of that Participant’s office or employment at any time during the Relevant Period; 

“Relevant Period” means the twelve-month period ending with the Effective 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 a Participant had a material involvement or about which
a Participant acquired material Confidential Information at any time during the Relevant Period; 
 “Restricted Period”
means: 
  

	 	(i)	 In relation to Participants who have ceased to be employed within the Group (as set out in rule 11.7 (Meaning
of “ceases to be employed within the Group”) due to retirement, the period commencing on the Effective Date and ending on the later of the Vesting Date and: 

 

	 	(a)	 in relation to paragraphs 1.1, 1.2 and 1.7 of this Schedule 3 (Restrictive Covenants), the date that is 6
months after the Effective Date; and 

  
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	 	(a)	 in relation to all other sub-paragraphs of paragraph 1 of this Schedule
3 (Restrictive Covenants), the date that is 12 months after the Effective Date; and 

  

	 	(ii)	 in relation to all other Participants, the 6 month period commencing on the Effective Date in relation to
paragraphs 1.1, 1.2 and 1.7 of this Schedule 3 (Restrictive Covenants) and the 12 month period commencing on the Effective Date in relation to all remaining sub-paragraphs of paragraph 1 (Covenants) of this
Schedule 3 (Restrictive Covenants); 

 “Restricted Territory” means England and such other countries in
which the Company and any Relevant Group Company provided any Restricted Business at the Effective Date; 
 “Social Media”
means any online communication tool which facilitates the creation, publication, storage and/or exchange of user-generated content, including (but not limited to) Twitter, Skype, Facebook, Myspace, YouTube, Flickr, LinkedIn, Wikis, Google+ and
Tumblr; 
 “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 a Participant had material dealings or for whom a Participant had responsibility or about whom a Participant acquired material Confidential Information, in the course of the
Participant’s office or employment, at any time during the Relevant Period; 
 “Target Business Entity” means any
business howsoever constituted (whether or not providing 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: 
  

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

  

	 	(ii)	 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 a Participant or about which a Participant
acquired material Confidential Information, in the course of the Participant’s office or employment, during the Relevant Period; and 

“Termination Date” means the date on which the Participant ceases to be employed within the Group, as set out in rule 11.7
(Meaning of “ceases to be employed within the Group”). 

  
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