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OMNICOM GROUP INC.
DIRECTOR COMPENSATION AND DEFERRED STOCK PROGRAM
(AS AMENDED, EFFECTIVE JANUARY 1, 2020)

1.Purpose.  The purpose of the Omnicom Group Inc. Director Compensation and Deferred Stock Program (the “Program”) is to promote the success and enhance the value of Omnicom Group Inc. (the “Company”) by linking the personal interests of the members of the Board of Directors of the Company to those of Company stockholders and by providing such members with an incentive for outstanding performance to generate superior returns to Company stockholders.   
2.Incentive Plan.  The Program is adopted under the Omnicom Group Inc. 2013 Incentive Award Plan, as amended, or any successor plan (the “Incentive Plan”).  Capitalized terms used herein but not defined herein will have the meanings ascribed to them in the Incentive Plan.
3.Administration.  The Program will be administered by the Committee subject to, and in accordance with, the terms of the Incentive Plan, including but not limited to Articles 3, 4, 8, 10, 11, 12, 13, 14 and 15 of the Incentive Plan.  The Committee will have full power and authority, subject to the provisions of the Program and the Incentive Plan, to supervise administration and to interpret the provisions of the Program and to authorize and supervise any crediting of Deferred Stock or issuance or payment of Stock hereunder.  Any determination or action of the Committee in connection with the interpretation or administration of the Program will be final, conclusive and binding on all parties.  No member of the Committee will be liable for any determination made, or any decision or action taken, with respect to the Program. 
4.Eligibility.  Each Director who is not an Employee or a former Employee will be eligible to receive Deferred Stock in accordance with the Program, provided that shares of Stock remain available for issuance hereunder in accordance with Article 3 of the Incentive Plan.  Each such eligible Director who elects to participate in the Program will be referred to herein as a “Participant”.
5.Director Compensation Generally.  The amount of compensation paid to each Participant for services as a Director (the “Director Compensation”) will be determined from time to time in accordance with the Company’s By-laws and applicable law.  
(a) Each Participant will receive on a quarterly basis a number of shares of Stock equal in value to $43,750 (or such other amount as determined by the Board from time to time) divided by the Fair Market Value of one common share on the day immediately preceding the date of the award for services to be performed in the following quarter.  Subject to Section 6 below, quarterly payments will be paid on the first business day following the annual meeting of the Company’s stockholders and on the 3, 6, and 9-month anniversaries, respectively, of such date.
(b) Each Participant may elect to receive all or a portion of his or her remaining Director Compensation in cash or in Stock.  

6.Deferral Elections.  
(a) With respect to the Director Compensation that is payable in shares of Stock under Section 5(a) of the Program and the remaining portion of Director Compensation that a Participant elects to receive in Stock under Section 5(b) of the Program, each Participant may further make an irrevocable deferral election (a “Deferral Election”) to defer payment of all or a portion of such Stock in accordance with the terms of the Program.  
(b) In order to make a Deferral Election pursuant to Section 6(a) of the Program, the Participant must deliver to the Company a written notice in a form prescribed by the Company (the “Deferral Election Form”) setting forth (1) the percentage of the Participant’s total Director Compensation otherwise payable in cash that the Participant elects to be paid in Stock, (2) the percentage of the Participant’s Director Compensation payable in Stock that the Participant elects to be deferred and paid in Deferred Stock, and (3) the Deferred Payment Date (as defined below) elected by the Participant.  
(c) The Deferral Election Form must be delivered no later than the last business day prior to the commencement of the calendar year for which the Director Compensation would be payable (the “Service Year”) and will be effective with respect to Director Compensation earned for such Service Year; provided that an eligible Director who is initially elected to the Board may deliver the Deferral Election Form within 30 days of the date on which such Director becomes a Director, and such Deferral Election Form will be irrevocable as of the close of business on the date it is delivered and will be effective with respect to Director Compensation earned after the date it is delivered for the remainder of the Service Year in which such Director becomes a Director.  In the event that a Participant becomes an Employee and continues to receive Director Compensation, (1) the Participant’s Deferral Election for the Service Year in which such Participant becomes an Employee will be effective through the end of such Service Year, and (2) the Participant will not be eligible to participate in the Program at any time after such Service Year.   
(d) For purposes of the Program, the “Deferred Payment Date”, as elected by the Participant, will be any of (1) the date of termination of the Participant’s services as a Director, subject to Section 6(e) of the Program, (2) a specified annual anniversary of such date of termination, subject to Section 6(e) of the Program, or (3) a specified date that is after December 31 of the Service Year.  The Deferral Election Form will be irrevocable with respect to such Director Compensation for the Service Year to which the Deferral Election relates and may not be modified in any respect after it is received by the Company, except to the extent that the Company in its sole discretion allows such revocation or modification on or prior to December 31 of the year immediately preceding such Service Year.  Notwithstanding the foregoing, a Participant may revoke or modify a Deferral Election, subject to proof of an “unforeseeable emergency” (within the meaning of Treasury Regulation 1.409A-3(i)(3)), as determined by the Committee, and any other limitations and restrictions as the Committee may prescribe in its sole discretion, by filing a revised Deferral Election Form, which must be approved by the Committee.  If a Participant is allowed to discontinue a deferral election during a calendar year, he or she will not be permitted to elect a new deferral until the next calendar year.
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(e) A Participant will not be deemed to have terminated service as a Director or ceased to be a Director for purposes of the determination of the Deferred Payment Date, and no payment of Deferred Stock that becomes payable as a result of such termination or cessation will be paid, unless such termination or cessation constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h) (a “Separation from Service”).   
7.Deferred Stock Accounts.  
(a) If a Participant elects to receive Deferred Stock under Section 6 of the Program, such Deferred Stock will be credited to a book-keeping account in the Participant’s name as of the day the Director Compensation to which the Deferred Stock relates would have been paid.  The number of shares of Deferred Stock credited to a Participant’s account will equal, as applicable, the number of shares of Stock that would have been paid to the Participant or the cash amount that would have been paid to the Participant divided by the Fair Market Value of one share of Stock on the date such cash amount would have been paid.  Such shares of Deferred Stock will count against the maximum number of shares of Stock authorized and reserved for issuance under Article 3 of the Incentive Plan.  
(b) A Participant’s account will be credited as of the last day of each calendar quarter with that number of additional shares of Deferred Stock equal to the amount of cash dividends paid by the Company during such quarter on the number of shares of Stock equivalent to the number of shares of Deferred Stock in the Participant’s account from time to time during such quarter divided by the Fair Market Value of one share of Stock on the last business day of such calendar quarter.  Such dividend equivalents, which will likewise be credited with dividend equivalents, will be deferred until the Deferred Payment Date for the Deferred Stock with respect to which the dividend equivalents were credited. 
(c) Subject to Section 8(b) of the Program, Deferred Stock will be subject to a deferral period beginning on the date of crediting to the Participant’s account and ending upon the Deferred Payment Date as the Participant has elected in accordance with Section 6 of the Program.  In accordance with Section 8.5 of the Incentive Plan and unless otherwise provided by the Committee, during such deferral period the Participant will have no rights as a Company stockholder with respect to his or her Deferred Stock.
8.Delivery of Shares.  
(a) Subject to Section 8(b) of the Program, the number of shares in a Participant’s account as of the Deferred Payment Date elected by such Participant will be delivered on or as soon as practicable, but in no event more than 60 days after, the Deferred Payment Date.  The Company will make delivery of certificates representing the shares of Stock which a Participant is entitled to receive in accordance with the terms of the Program and the Incentive Plan.
(b) Notwithstanding anything to the contrary in this Program, if at the time of a Director’s Separation from Service, such Director is a “specified employee” as defined in Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), as reasonably determined by the Company in accordance with Section 409A of the Code, and the deferral of 
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the commencement of any distributions otherwise payable hereunder as a result of such Separation from Service is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company will defer the commencement of any such distributions hereunder (without any reduction in the amounts ultimately distributed or provided to the Director) until the date that is at least six months following the Director’s Separation from Service with the Company (or the earliest date permitted under Section 409A of the Code), whereupon the Company will distribute to the Director a lump-sum amount equal to the cumulative amounts that would have otherwise been previously distributed to the Director under this Program during the period in which such distributions were deferred.  Thereafter, distributions will resume in accordance with this Program.
9.Effective Date and Term.  The Program will be effective January 1, 2009 (the “Effective Date”) and will remain in effect until its termination by action of the Board subject to Section 10(a).
10.Amendment or Termination.  
(a) The Company may at any time amend the Program, provided that to the extent necessary and desirable to comply with any applicable law, regulation or stock exchange rule, the Company will obtain stockholder approval of any Program amendment in such a manner and to such a degree as required.  The Company may terminate the Program at any time and, in connection with any such termination, may deliver to each Participant the shares of Stock credited to his account, subject to and in accordance with the requirements of Treasury Regulation Section 1.409A-3(j)(4)(ix) (or any successor provision thereto).  An amendment or termination of the Program will not adversely affect the right of a Participant to receive Stock issuable or cash payable at the effective date of the amendment or termination.  
(b) The Program is intended to meet the requirements of Section 409A of the Code and will be interpreted and construed in accordance with Section 409A of the Code and Department of Treasury Regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the Effective Date.  Notwithstanding any provision of the Program or the Incentive Plan to the contrary, in the event that following the Effective Date the Committee determines that any provision of the Program could otherwise cause any person to be subject to the penalty taxes imposed under Section 409A of the Code, the Committee may adopt such amendments to the Program or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Committee determines are necessary or appropriate to comply with the requirements of Section 409A of the Code and related Department of Treasury guidance and thereby avoid the application of any penalty taxes under such Section. 
11.Miscellaneous.
(a) The rights, benefits or interests a Participant may have under this Program are not assignable or transferable and will not be subject in any manner to alienation, sale or any encumbrances, liens, levies, attachments, pledges or charges of the Participant or his or her creditors.
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(b) To the extent that the application of any formula described in this Program does not result in a whole number of shares of Stock, the result will be rounded upwards to the next whole number.
(c) The adoption and maintenance of this Program will not be deemed to be a contract between the Company and a Participant to retain his or her position as a Director.

* * *

I hereby certify that the foregoing Omnicom Group Inc. Director Compensation and Deferred Stock Program was duly adopted by the Board as of December 4, 2008 and amended as of October 18, 2012, January 1, 2017 and January 1, 2020.

Executed on this 1st day of January, 2020.    

             
             __/s/ Michael J. O’Brien________________
             Michael J. O’Brien  
Senior Vice President, General Counsel and  
Secretary  
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Exhibit 10.3
Omnicom Group Inc.

Leslie Chiocco
Vice President,
Human Resources
& Retirement Benefits
March 22, 2019

Rochelle Tarlowe
215 West 90th Street, Apt. 7E 
New York, New York 10024

Dear Rochelle,

It gives me great pleasure to confirm our offer of employment to you with Omnicom Management Inc. (the "Company" or "OMI"), the corporate office for Omnicom Group Inc., in the Stamford office under the following terms and conditions:

Title and Reporting Relationship
When you join the Company, your initial title will be Senior Vice President and Treasurer. You initially will be reporting to the Chief Financial Officer of Omnicom Group Inc.

Hire Date and Employment Eligibility
As agreed, your hire date will be May 6, 2019. This offer of employment is contingent upon verification of the prior employment and education information, which you have provided, and satisfactory results from a background check, which may include investigation of other pertinent information bearing upon your continued employment with the Company. In addition, your employment is contingent upon you providing the required documentation to verify your employment eligibility in the U.S. as required for the enclosed Form 1-9.

Compensation
Your starting salary will be at the annual rate of $425,000, with a semi-monthly equivalent of $17,708. Your salary will be payable in accordance with the Company's normal payroll practices and subject to standard withholdings. You will be paid semi-monthly on the 15th and last working day of each month. If such date falls on a weekend or company holiday, you will be paid on the preceding work day.

You are eligible to participate in the management bonus pool and your first bonus will be determined after the 2019 calendar year (payable in 2020) and will not be prorated from your date of hire. Your annual bonus target will be $300,000. Bonus payments are based on your performance and on the overall discretionary bonus pool approved for the Company each year. Bonuses are discretionary and are typically paid in April for the prior year and are conditioned upon your continued employment through the payment date of the bonus.

You are eligible to participate in the Omnicom Equity Incentive Plan and you will be considered for your first annual award after the 2019 calendar year. Your annual restricted stock unit award target amount will be $250,000. Awards of restricted stock units shall vest pro-rata over five years and are subject to the terms and conditions of the Omnicom Equity Incentive Plan in effect at the time of the grant and the approval of the Omnicom Group Compensation Committee.

As an executive officer of Omnicom Group Inc. your incentive compensation, including any bonus award and/or restricted stock unit award will be subject to approval by the Omnicom Group Inc. Compensation Committee and the actual amounts awarded can be decreased, or increased at their discretion.

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Transition Awards

In connection with your becoming an employee, you will receive a one-time bonus award of $100,000 payable on October 1, 2019 conditioned upon your continued employment through the payment date of the bonus. On, or about, July 1, 2019 you will also be granted an award of $450,000 of restricted stock units that will vest pro-rata over five years, and is subject to the terms and conditions of the Omnicom Equity Incentive Plan in effect at the time of the grant.
Benefits

As part of your compensation package, you are also eligible to participate in the Company's benefit plans and policies, which currently consist of medical, dental, vision, life insurance, long and short-term disability, supplemental life insurance, personal accident insurance, paid vacation and holidays, 401k retirement plan and employee stock purchase plan. Also, you will be entitled to four weeks (20 days) of vacation per year, prorated for your first year, which is more than what the company's normal vacation policy provides. Information about all of these benefits will be provided upon hire. If you have any questions before, please let us know.

Non-Disclosure/ Non-Solicitation/ Work for Hire

In consideration of your employment with the Company and for other good and valuable consideration, receipt of which is hereby acknowledged, you agree as follows:
(a)In the course of your employment with the Company, you will acquire and have access to confidential or proprietary information about the Company and/or its clients and/or customers, including but not limited to, trade secrets, methods, models, passwords, access to computer files, financial information and records, computer software programs, agreements and/or contracts between the Company and its clients and/or customers, the Company's client lists, the Company's client contacts, the Company's editorial, marketing and/or creative policies, practices, concepts, strategies, and methods of operations, internal policies, pricing policies and procedures, cost estimates, engagement planning materials, employee lists, training manuals, financial or business projections, and information about or received from clients and other companies with which the Company does business. The foregoing shall be collectively referred to as "confidential information." You are aware that the confidential information is not readily available to the public. You agree that during your employment or provision of services and thereafter, you will keep confidential and not disclose the confidential information to anyone or use it for your own benefit or for the benefit of others, except in performing your duties as our employee or agent. You agree that this restriction shall apply whether or not any such information is marked "confidential."
(b)All memoranda, disks, files, notes, records or other documents, whether in electronic form or hard copy (collectively, the "material") compiled by you or made available to you during your employment (whether or not the material contains confidential information) are the property of the Company and shall be delivered to the Company on the termination of your employment or at any other time upon request. Except in connection with your employment, you agree that you will not make or retain copies or excerpts of the material.
(c)You agree that your position with the Company requires and will continue to require the performance of services which are special, unique, extraordinary, and of an intellectual character and places you in a position of confidence and trust with the clients and employees of the Company. You further acknowledge that the rendering of services to the Company's clients necessarily requires the disclosure of confidential information and trade secrets of the Company. You agree that in the course of your employment with or rendering of services to the Company, you will develop a personal acquaintanceship and relationship with the clients of the Company and knowledge of those clients' affairs and requirements. Consequently, you agree that it is reasonable and necessary for the protection of the good will and business of the Company that you make the covenants contained herein. Accordingly, you agree that while you are in the Company's employ and for the one year period after the termination of your employment, for any reason whatsoever, you shall not directly or indirectly, except on behalf of the Company:
(i)     attempt in any manner to solicit or accept from any Client (as defined below) business of

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the type performed by the Company or to persuade any Client to cease to do business or to reduce the amount of business which any such Client has customarily done or is reasonably expected to do with the Company, whether or not the relationship between the Company and such Client was originally established in whole or in part through your efforts; or
(ii)     employ as an employee or retain as a consultant any person who is then or at any time during the 
preceding twelve months was an employee of or exclusive consultant to the Company (unless the Company had terminated the employment or engagement of such employee or exclusive consultant prior to the time of the alleged prohibited conduct), or persuade or attempt to persuade any employee of or exclusive consultant to the Company to leave the employ of the Company or to become employed as an employee or retained as a consultant by anyone other than the Company; or
(iii)     render to or for any Client any services of the type rendered by the Company. As used in this
 section only, the term "Company" shall include OMI and all subsidiaries of Omnicom Group Inc.; and the term "Client" shall mean (1) anyone who is a client of any Omnicom Group Inc. company ("OGI Company") at the time your employment is terminated, or, if your employment shall not have terminated, at the time of the alleged prohibited conduct (any such applicable date being called the "Determination Date"), but only if you had a direct relationship with, supervisory responsibility for or otherwise were significantly involved with such client during your employment with the Company; (2) anyone who was a client of any OGI Company at any time during the one year period immediately preceding the Determination Date, but only if you had a direct relationship with, supervisory responsibility for or otherwise were significantly involved with such client during your employment with the Company; (3) any prospective client to whom any OGI Company had made a new business presentation (or similar offering of services) at any time during the one year period immediately preceding the Determination Date, but only if you participated in or supervised such presentation and/or the preparation therefore or the discussions leading up thereto; and (4) any prospective client to whom any OGI Company made a new business presentation (or similar offering of services) at any time within six months after your termination of employment, but only if the initial discussions between such OGI Company and such prospective client relating to the rendering of services occurred prior to your termination of employment, and only if you participated in or supervised such presentation and/or the preparation therefore or the discussions leading up thereto.
For purposes of this clause, it is agreed that a general mailing or an incidental contact shall not be deemed a "new business presentation or similar offering of services" or a "discussion". In addition, if the client is part of a group of companies which conducts business through more than one entity, division or operating unit, whether  or not separately incorporated (a "Client Group"), the term "client"  as used herein  shall  also include  each entity, division and operating unit of the Client Group for whom the Company also renders services where the same management group of the Client Group has the decision making authority or significant influence with respect to contracting for services of the type rendered by the Company.
(d)     You agree that any actual or threatened breach by you of the covenants set forth above would result in irreparable harm to the Company for which monetary damages alone would be an insufficient remedy. Thus, although nothing in this paragraph will prohibit the Company from pursuing any remedies available to it against you under applicable law (which shall be cumulative with those remedies set forth herein), you specifically agree that, in the event of any threatened or actual breach of this agreement by you, the Company shall be entitled to a temporary restraining order and, thereafter, a preliminary and permanent injunction and other equitable relief including, without limitation, an equitable accounting of earnings, profits, and other benefits, from a court of competent jurisdiction, as well as reimbursement from you for any attorneys' fees and other costs incurred by the Company in obtaining such relief. No specification in this agreement of any legal or equitable remedy shall be construed as a waiver or prohibition against pursuing any other legal or equitable remedies in the event of a threatened or actual breach of this agreement by you.
(e)     Notwithstanding anything to the contrary, you shall not be held criminally liable under any Federal
or State trade secret law for the disclosure of a trade secret that is made in confidence to a Federal, State, or local

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government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law. You shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. You who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to your attorney and use the trade secret information in the court proceeding, if you file any document containing the trade secret under seal; and do not disclose the trade secret, except pursuant to court order.
(f)(i) You hereby assign to the Company, or its designee, all your right, title, and interest in and to any and all Works, original works of authorship, developments, concepts, improvements or trade secrets, which you may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed, during your employment and which (x) relate to the Company's business, (y) result from any work performed for the Company, or (z) result from any use of the Company's equipment, supplies, facilities or Confidential Information (collectively referred to as "Works"). You further acknowledge that all original works of authorship which are made by you (solely or jointly with others) within the scope of this Agreement and during your employment and which are protectible by copyright are "works made for hire," as that term is defined in the United States Copyright Act. If for any reason any portion of the Works do not qualify as works made for hire, that you hereby transfer and assign to the Company all right, title and interest in and to the Works, including the Copyright therein.
(ii) You agree to assist the Company, or its designee, at the Company's expense, in every proper way to secure the Company's rights in the Works and any copyrights, or other intellectual property rights relating thereto, including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications, assignments and all other instruments which the Company shall deem necessary in order to apply for and obtain such rights.
(g)If any provision of this section, or any part thereof, is found to be invalid or unenforceable, the same shall not affect the remaining provisions, which shall be given full effect, without regard to the invalid portions. Moreover, if any one or more of the provisions contained in this agreement shall be held to be excessively broad as to duration, scope, activity or subject, such provisions shall be construed by limiting and reducing them so as to be enforceable to the maximum extent with applicable law.
(h)You agree that the terms set forth in this section shall survive the termination of your employment with or provision of services to the Company.

Employment At Will

This offer is not a contract for a definite period of time. Although we look forward to a mutually rewarding relationship, your employment is at will and accordingly, is subject to termination by either  you or the Company  at any time, for any reason or for no reason.

Miscellaneous
(a)This letter contains the entire agreement between us. You acknowledge that you have not relied upon any representations (oral or otherwise) other than those explicitly stated in this offer letter.
(b)The terms of this agreement and all rights and obligations of the parties thereto including its enforcement shall be interpreted and governed by the laws of the state of New York.

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To confirm your acceptance of this offer, kindly sign below and initial where indicated and return one copy of this agreement to Portia Torres, HR Manager for Omnicom at portia.torres@omnicomgroup.com.

Should you have any questions, my direct number is 212-415-3605, and Portia's number is 212-415-3641. We look forward to you joining the Omnicom corporate team!
Sincerely,

Leslie Chiocco

I confirm my acceptance of employment with Omnicom Management Inc., subject to the terms and conditions set
forth above. By signing below, I also acknowledge that I agree to abide by the provisions of the Confidentiality Agreement (contained herein).

Accepted: /s/ Rochelle M. Tarlowe                                                                 Date: March 26, 2019
Cc: Philip J. Angelastro

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