<SEC-DOCUMENT>0001104659-21-116393.txt : 20210916
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<ACCEPTANCE-DATETIME>20210916163047
ACCESSION NUMBER:		0001104659-21-116393
CONFORMED SUBMISSION TYPE:	8-K/A
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20210802
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210916
DATE AS OF CHANGE:		20210916

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Stagwell Inc
		CENTRAL INDEX KEY:			0000876883
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		IRS NUMBER:				980364441
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13718
		FILM NUMBER:		211258274

	BUSINESS ADDRESS:	
		STREET 1:		ONE WORLD TRADE CENTER, FLOOR 65
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10007
		BUSINESS PHONE:		646 429 1800

	MAIL ADDRESS:	
		STREET 1:		ONE WORLD TRADE CENTER, FLOOR 65
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10007

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC Stagwell Holdings Inc
		DATE OF NAME CHANGE:	20210729

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC PARTNERS INC
		DATE OF NAME CHANGE:	20040206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORP INC
		DATE OF NAME CHANGE:	20001204
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<p style="margin: 0"></p>

<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

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<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>WASHINGTON, D.C. 20549</b></p>

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<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>FORM&#160;<span id="xdx_900_edei--DocumentType_c20210802__20210802_zPgzDHomShV4"><ix:nonNumeric contextRef="From2021-08-02to2021-08-02" name="dei:DocumentType">8-K/A</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 12pt"><b>(Amendment
No. 1)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Pursuant to Section&#160;13 or 15(d)</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>of the Securities Exchange Act of 1934</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Date of Report (Date of earliest event reported):
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<p style="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span id="xdx_908_edei--EntityRegistrantName_c20210802__20210802_z1uaXTb1DXm"><ix:nonNumeric contextRef="From2021-08-02to2021-08-02" name="dei:EntityRegistrantName">STAGWELL INC.</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(Exact name of Registrant as Specified in Its
Charter)</b></p>

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<p style="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

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 <b>File Number)</b> </td>
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<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>(Address of principal
executive offices and zip code)</b> </p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(<span id="xdx_90E_edei--CityAreaCode_c20210802__20210802_zPa7rt8S8iwb"><ix:nonNumeric contextRef="From2021-08-02to2021-08-02" name="dei:CityAreaCode">646</ix:nonNumeric></span>) <span id="xdx_909_edei--LocalPhoneNumber_c20210802__20210802_zO3Bd8A5PNZ3"><ix:nonNumeric contextRef="From2021-08-02to2021-08-02" name="dei:LocalPhoneNumber">429-1800</ix:nonNumeric></span><br />
(Registrant&#8217;s Telephone Number)</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the Form&#160;8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425) </span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <td style="font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12) </span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td style="font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR 240.14d-2(b)) </span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td style="font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c)) </span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Securities registered pursuant to Section&#160;12(b)&#160;of
the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule&#160;12b-2 of the
Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif">Emerging
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act.&#160;<span style="font-family: Wingdings">&#168;</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><span style="text-decoration: underline">Explanatory Note</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Amendment No. 1 to Current
Report on Form 8-K/A (the &#8220;8-K Amendment&#8221;) is being filed to amend the Current Report on Form 8-K of Stagwell Inc. (the &#8220;Company&#8221;)
filed on August 2, 2021 (the &#8220;Original 8-K&#8221;). The Original 8-K included disclosure in Item 5.02 with respect to the appointments
of Jay Leveton as President of the Company and Ryan Greene as Chief Operating Officer of the Company. This 8-K Amendment supplements and
amends Item 5.02 to include information that became available after the filing of the Original 8-K with respect to the terms of the compensation
agreements between the Company and Mr. Leveton and Mr. Greene.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><b>Item 5.02
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration: underline">Appointment of President</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 2, 2021, the Board
of Directors of the Company appointed Jay Leveton as President of the Company. On September 12, 2021, the Company and Mr. Leveton entered
into an employment agreement (the &#8220;Leveton Employment Agreement&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the terms of the
Leveton Employment Agreement, Mr. Leveton will receive an annualized base salary of $725,000 and will be eligible for an annual discretionary
bonus with a target amount equal to 80% of his then-current base salary. Mr. Leveton will also be paid a cash signing bonus of $325,000.
In addition, Mr. Leveton will be eligible to participate in the Company&#8217;s long-term incentive plans. In the event of Mr. Leveton&#8217;s
termination without &#8220;cause&#8221; (as defined in the Leveton Employment Agreement) he will be entitled to severance of six months
of base salary continuation, payable in regular installments in accordance with the Company&#8217;s customary payroll practices.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The description of the Leveton
Employment Agreement in this Item 5.02 is qualified in its entirety by reference to the terms of the Leveton Employment Agreement, which
is filed as Exhibit 10.1 hereto and is incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration: underline">Appointment of COO</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 2, 2021, the Board
of Directors of the Company appointed Ryan Greene as Chief Operating Officer of the Company. On September 12, 2021, the Company and Mr.
Greene entered into an employment agreement (the Greene Employment Agreement&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the terms of the
Greene Employment Agreement, Mr. Greene will receive an annualized base salary of $575,000 and will be eligible for an annual discretionary
bonus with a target amount equal to 75% of his then-current base salary. Mr. Greene will also be paid a cash signing bonus of $300,000.
In addition, Mr. Greene will be eligible to participate in the Company&#8217;s long-term incentive plans. In the event of Mr. Greene&#8217;s
termination without &#8220;cause&#8221; (as defined in the Greene Employment Agreement) he will be entitled to severance of six months
of base salary continuation, payable in regular installments in accordance with the Company&#8217;s customary payroll practices.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The description of the Greene
Employment Agreement in this Item 5.02 is qualified in its entirety by reference to the terms of the Greene Employment Agreement, which
is filed as Exhibit 10.2 hereto and is incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
  <tr style="vertical-align: top">
    <td style="width: 8%"><b>Item 9.01</b></td>
    <td style="width: 92%"><b>Financial Statements and Exhibits.</b></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits.</p>

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    <td style="width: 6%; font-size: 10pt"><a href="tm2127735d1_ex10-1.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt">10.1</span></a></td>
    <td style="text-align: justify; width: 94%; font-size: 10pt"><a href="tm2127735d1_ex10-1.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt">Employment Agreement, dated as of September 12, 2021, by and between the Company and Jay Leveton.</span></a></td></tr>
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    <td style="font-size: 10pt"><a href="tm2127735d1_ex10-2.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt">10.2</span></a></td>
    <td style="text-align: justify; font-size: 10pt"><a href="tm2127735d1_ex10-2.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt">Employment Agreement, dated as of September 12, 2021, by and between the Company and Ryan Greene.</span></a></td></tr>
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    <td style="font-size: 10pt"><span style="font-size: 10pt">104</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Cover Page Interactive Data File (embedded within the Inline XBRL document)</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES </b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: September 16, 2021</p>

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    <td style="padding-left: 10pt; text-indent: -10pt; width: 50%">&#160;</td>
    <td style="padding-left: 10pt; text-indent: -10pt; width: 50%">STAGWELL INC.</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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    <td style="width: 3%; text-align: left"><span style="font-size: 10pt">By:</span></td>
    <td style="border-bottom: Black 1pt solid; text-align: justify; width: 47%"><span style="font-size: 10pt">/s/ <span style="font-variant: small-caps">Frank Lanuto</span></span></td></tr>
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    <td>&#160;</td>
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    <td>&#160;</td>
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    <td style="text-align: justify"><span style="font-size: 10pt">Chief Financial Officer</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0">&#160;</p>

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<TYPE>EX-10.1
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<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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                           <P STYLE="margin: 0pt"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: right; text-indent: 0in"><B STYLE="font-style: normal; font-weight: normal">Exhibit 10.1</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-decoration: none">EMPLOYMENT
AGREEMENT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"><B>EMPLOYMENT AGREEMENT</B>
(this &#8220;Agreement&#8221;), dated as of _<U>9/12/21_</U> by and between <B>STAGWELL INC.</B>, and its affiliates (the &#8220;Company&#8221;),
and <B>JAY LEVETON</B> (the &#8220;Executive&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-decoration: none">W
I T N E S S E T H:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"><B>WHEREAS</B>,
the Company wishes to employ the Executive, and the Executive wishes to accept such employment, upon the terms and conditions hereinafter
set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 27pt; text-align: justify; text-indent: 74pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"><B>NOW</B>, <B>THEREFORE</B>,
in consideration of the premises and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">1.</TD><TD STYLE="text-align: justify; width: 89%"><U>Employment</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The Company agrees
to employ the Executive during the Term specified in <U>Section 2</U>, and the Executive agrees to accept such employment, upon the terms
and conditions hereinafter set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">2.</TD><TD STYLE="text-align: justify; width: 89%"><U>Term</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">Subject to the provisions
contained in Sections 6 and 7, the Executive&#8217;s employment by the Company shall be for a term (the &#8220;<B>Term</B>&#8221;) commencing
as soon as practicable as mutually agreed between the Company and the Executive and as approved by the Compensation Committee of Stagwell
Inc.&#8217;s Board of Directors (the &#8220;<B>Board</B>&#8221;), but not later than September 1, 2021 (the &#8220;<B>Commencement Date</B>&#8221;),
and continuing for an indefinite period thereafter unless and until (i) the Executive delivers to the Company ninety (90) days&#8217;
advance written notice of resignation (a &#8220;Notice of Termination&#8221;) (ii) the Company terminates the Executive&#8217;s employment
with or without &#8220;Cause&#8221; (as defined herein) or (iii) the Agreement is terminated due to Executive&#8217;s death or &#8220;Disability&#8221;
(as defined herein). Any Notice of Termination given by the Executive under this Section 2 shall specify the date of termination and the
fact that the notice is being delivered pursuant to Section 2 of this Agreement. In the event that the Executive delivers a Notice of
Termination, the Company shall have the right to either (i) waive all or part of such ninety (90)-day notice period or (ii) at any time
during such ninety (90)-day notice period to relieve the Executive of all or any portion of his offices, duties and responsibilities and
place him on a paid leave-of-absence status. The date on which the Executive ceases to be employed by the Company, regardless of the reason
therefor, is referred to in this Agreement as the &#8220;<B>Termination Date</B>&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">3.</TD><TD STYLE="text-align: justify; width: 89%"><U>Duties and Responsibilities</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Title</U>. During the Term, the Executive shall have the position of President, or such other leadership title as the Chief Executive
Officer of the Company may designate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 25pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duties</U>.
The Executive shall report directly to the Chief Executive Officer of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 25pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 25pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Company or his designee. The Executive is responsible for managing individual networks, working closely with the CEOs of the companies
and the networks on a day-to-day basis. The Executive shall set incentives and be responsible for the CEOs and companies working together
to grow the overall business. The Executive shall work with the Chief Financial Officer and the Chief Operating Officer to help implement
cost control programs and shall work with the Chief Brand Officer to implement the Company&#8217;s new brand image. The Executive also
shall perform such executive and managerial duties and responsibilities customary to his office and as are reasonably necessary to the
operations of the Company. The Chief Executive Officer may direct or require the Executive to undertake other or different leadership
duties if in the reasonable judgment of the Chief Executive Officer such duties are in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Responsibilities; Scope of Employment</U>. The Executive&#8217;s employment by the Company shall be full-time and exclusive, except
as noted in this Agreement, and during the Term, the Executive agrees that he will (i) devote all of his business time and attention,
his best efforts, and all his skill and ability to promote the interests of the Company, and (ii) carry out his duties in a competent
manner and serve the Company faithfully and diligently under the direction of the Chief Executive Officer. Notwithstanding the foregoing,
the Company acknowledges and agrees that Executive may continue to receive carried interest from Executive&#8217;s contractual arrangement
with Stagwell Group Holdings and such contractual arrangement for carried interest or other passive investment therein in no way violates
the terms of this Agreement. Additionally, Executive shall be permitted to engage in to manage his personal passive investments, provided
that such passive investments are not in a company which transacts business with the Company or engages in business competitive with that
conducted by the Company (or, if such company does transact business with the Company, or does engage in a competitive business, it is
a publicly held corporation and the Executive&#8217;s participation is limited to owning less than 1% of its outstanding shares), excepting
and further provided that any such activities, individually or in the aggregate, do not interfere with the performance of his duties or
responsibilities under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Office
Location</U>. During the Term, the Executive&#8217;s services hereunder shall be performed at the offices of the Company in Washington,
DC, subject to necessary travel requirements in order to carry out his duties in connection with his position hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">4.</TD><TD STYLE="text-align: justify; width: 89%"><U>Compensation</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Base
Salary</U>. As compensation for his services hereunder, during the Term, the Company shall pay the Executive, in accordance with its
normal payroll practices, an annualized base salary of $725,000, which may be increased from time to time by the Board, subject to customary
withholding for federal, state and local taxes (such annualized base salary, as it may be so increased, &#8220;<B>Base Salary</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Annual
Discretionary Bonus Eligibility</U>. During the Term, the Executive will be eligible to receive an annual discretionary bonus in a target
amount equal to 80% of his Base Salary, which target amount may be increased from time to time by the Board. The annual discretionary
bonus shall be based upon criteria determined by the Chief Executive Officer and the Compensation Committee of the Board, which criteria
will include the Executive&#8217;s performance, the overall financial performance of the Company, and such other factors as the Chief
Executive Officer and the Compensation Committee deem reasonable and appropriate in their discretion (such annual discretionary bonus,
as it may be so increased, the &#8220;<B>Annual Discretionary Bonus</B>&#8221;). The Annual Discretionary Bonus will be paid in accordance
with the Company&#8217;s normal bonus payment procedures, subject to customary withholding for federal, state, and local taxes. The Annual
Discretionary Bonus for 2021 (the &#8220;<B>2021 Bonus</B>&#8221;) will be pro-rated by one-half, with July 1, 2021 as the start date
of Executive&#8217;s eligibility period for the 2021 Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.9pt 0pt 29pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.9pt 0pt 29pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.9pt 0pt 29pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grants
under LTIP Plans</U>. The Executive shall be eligible to participate in the Company&#8217;s long-term incentive plans with a target value
and metrics as determined the Chief Executive Officer and the Compensation Committee of the Board. The Company anticipates that the LTIP
grants will be determined in 2022, reflective of Executive&#8217;s work in 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Initial
Cash&nbsp;Bonus&nbsp;Award</U><B>.</B>&nbsp;The Company shall pay the Executive a one-time&nbsp;bonus&nbsp;in an amount equal to $325,000
(the &#8220;<B>Signing&nbsp;Bonus</B>&#8221;) within thirty (30) days after the Commencement Date, subject to applicable withholding
for federal, state, and local taxes. Notwithstanding the foregoing, in the event the Executive resigns or is terminated by the Company
for &#8220;Cause&#8221; within six (6) months of the Commencement Date, you shall immediately pay back to to the Company an amount equal
to the full amount of the&nbsp;Signing&nbsp;Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">5.</TD><TD STYLE="text-align: justify; width: 89%"><U>Business and Professional Expenses; Health and Welfare Benefits</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>. During the Term, the Company agrees to pay or to reimburse the Executive for all reasonable, ordinary, necessary, and
documented business or entertainment expenses incurred in the performance of his services hereunder. The Executive, as a condition precedent
to obtaining such payment or reimbursement, shall provide to the Company any and all statements, bills or receipts evidencing the travel
or out-of-pocket expenses for which the Executive seeks payment or reimbursement, and any other information or materials, as the Company
may from time to time reasonably require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Benefit
Plans</U>. During the Term, the Executive and, to the extent eligible, his dependents, shall be entitled to participate in and receive
all benefits under any group health plans, welfare benefit plans and programs (including without limitation, medical, medical reimbursement,
disability, and group life insurance) provided by the Company to its senior executives generally, subject to the generally applicable
eligibility and other provisions of the various plans and programs in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vacation</U>.
The Executive shall be entitled to twenty (20) days of vacation in accordance with the Company&#8217;s policies, with no right of carry
over, to be taken at such times as shall not materially interfere with the Executive&#8217;s fulfillment of his duties hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">6.</TD><TD STYLE="text-align: justify; width: 89%"><U>Termination</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Termination for Cause. The Company, by direction of the Board or the Chief Executive Officer, shall be entitled to terminate the Term
and to discharge the Executive for Cause effective upon the giving of written notice. The term &#8220;<B>Cause</B>&#8221; shall be limited
to the following grounds:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 25pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 25pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 25pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the Executive's failure or refusal to perform his duties and responsibilities as set forth in <U>Section 3</U> hereof, or abide by the
reasonable directives of the Chief Executive Officer or the Board, or the failure of the Executive to devote all of his business time
and attention exclusively to the business and affairs of the Company in accordance with the terms hereof, in each case following written
notice to the Executive from the Chief Executive Officer or the Board specifying such failure and that it may be deemed to be Cause and
a five (5) business day period to perform or cure (if curable);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the willful misappropriation of the funds or property of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the use of alcohol or illegal drugs, materially interfering with the performance of the Executive&#8217;s obligations under this Agreement,
continuing after written warning contained in a notice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the conviction in a court of law of, or entering a plea of guilty or no contest to, any felony or any crime involving moral turpitude,
dishonesty or theft;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the material nonconformance with the Company&#8217;s standard business practices and policies, including without limitation, policies
against racial or sexual discrimination or harassment, made known to the Executive, which nonconformance is not cured (if curable) within
two (2) days after written notice to the Executive by the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the commission in bad faith by the Executive of any act which materially injures or could reasonably be expected to materially injure
the reputation, business or business relationships of the Company or any subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the gross or habitual misconduct or gross or habitual negligence by the Executive in the performance of his duties which misconduct or
negligence is not cured (if curable) within five (5) business days after written notice to the Executive by the Company; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
any material breach (not covered by any of the clauses (i) through (vii) above) of any material term of this Agreement, if such breach
is not cured (if curable) within five (5) business days after written notice thereof to the Executive by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="text-indent: 1in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Any notice required to be given by
the Company pursuant to any of the clauses above shall specify the specific nature of the claimed breach and the manner in which the Company
requires such breach to be cured (if curable). In the event that the Executive is purportedly terminated for Cause and a court determines
that Cause as defined herein was not present, then such purported termination for Cause shall be deemed a termination without Cause pursuant
to <U>Section 6(b)</U> and the Executive&#8217;s rights and remedies will be governed by <U>Section 7(b)</U>, in full satisfaction and
in lieu of any and all other or further remedies the Executive may have under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Termination without Cause</U>. The Company, by direction of the Board or the Chief Executive Officer, shall have the right at any time
to immediately terminate the Term and the employment of the Executive without Cause by giving written notice to the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
for Death or Disability</U>. In the event of the Executive&#8217;s death, the Termination Date shall be the date of the Executive&#8217;s
death. In the event that (i) the Executive shall be unable to perform his duties hereunder by virtue of illness or physical or mental
incapacity or disability (from any cause or causes whatsoever) in substantially the manner and to the extent required hereunder prior
to the commencement of such disability and (ii) the Executive shall fail to perform such duties for periods aggregating 120 days, whether
or not continuous, in any continuous period of 365 days (all such causes being herein referred to as &#8220;<B>Disability</B>&#8221;),
the Company shall have the right to terminate the Executive&#8217;s employment hereunder as at the end of any calendar month during the
continuance of such Disability upon prior written notice to him.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">7.</TD><TD STYLE="text-align: justify; width: 89%"><U>Effect of Termination of Employment</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by the Company for Cause; or pursuant to a Notice of Termination given by the Executive</U>. In the event of the termination of the employment
of the Executive (1) by the Company for Cause, or (2) by the giving of a Notice of Termination under Section 2 hereof by the Executive,
the Executive shall be entitled to unpaid Base Salary through, and any unpaid reimbursable expenses outstanding as of, the Termination
Date (the &#8220;<B>Accrued Rights</B>&#8221;), and, except as provided in this Section 7(a) and such rights granted by the Consolidated
Omnibus Budget Reconciliation Act (&#8220;<B>COBRA</B>&#8221;), the Company shall have no further liability to the Executive or the Executive&#8217;s
heirs, beneficiaries or estate for damages, compensation, benefits, severance, indemnities or other amounts of whatever nature, directly
or indirectly, arising out of or otherwise related to this Agreement and the Executive&#8217;s employment or cessation of employment
with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination of the Executive&#8217;s Employment without Cause</U>. In the event of a termination of the Executive&#8217;s employment
without Cause, the Executive shall be entitled to the following payments:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin-left: 20pt; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Accrued Rights as provided in Section 7(a) hereof; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin-left: 20pt; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
his applicable Base Salary compensation when otherwise payable for a period commencing on the Termination Date and ending on the end of
the six (6)-month period immediately following the Termination Date (the &#8220;<B>Severance Period</B>&#8221;). The severance amount
described in this Section 7(b)(ii), less applicable withholding of any tax amounts, shall be paid by the Company to the Executive over
the Severance Period in accordance with the Company&#8217;s customary payroll practices; provided that the first payment shall be made
on the Company&#8217;s first normal payroll date following the 60<SUP>th</SUP> day following the Date of Termination, and any payments
that would otherwise have been payable prior to such payroll date shall be paid in a lump sum on such payroll date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-indent: 1in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">In
connection with a termination by the Company without Cause, except as provided in this <U>Section 7(b)</U> and the rights granted by
COBRA, the Company shall have no further liability to the Executive or the Executive&#8217;s heirs, beneficiaries or estate for
damages, compensation, benefits, severance, indemnities or other amounts of whatever nature, directly or indirectly, arising out of
or otherwise related to this Agreement and the Executive&#8217;s employment or cessation of employment with the Company. The
Executive shall be under no duty to mitigate damages hereunder; <U>provided</U>, <U>however</U>, in the event that the Executive
obtains any other employment or consulting arrangement, he shall promptly notify the Company, and any compensation and benefits paid
to the Executive therefrom shall reduce the Company&#8217;s severance obligations under this <U>Section 7(b)</U>. From time to time
during the Severance Period, upon the Company&#8217;s reasonable written request, the Executive shall provide the Company with
written verification (such as wage stubs, tax returns and new employer verifications) of amounts earned from such other employment
or consulting arrangements, as well as when and if he is entitled to receive coverage under the benefit plans of any new employer in
which he participates. In the event the Executive fails to supply such information within twenty (20) days following a written
request by the Company, the obligations of the Company under this <U>Section 7(b)</U> shall terminate. The making of any severance
payments and providing the other benefits as provided in this <U>Section 7(b)</U> is conditioned upon the Executive signing,
complying with and not revoking a separation agreement and general release approved by the Company, and such release becoming
effective and irrevocable within 60 days following the Termination Date. In the event the Executive breaches any material provisions
of the separation agreement or any of the provisions of <U>Section 8</U> of this Agreement, which breach is not cured (if curable)
within any applicable cure period, in addition to any other remedies at law or in equity available to it, the Company may cease
making any further payments and providing the other benefits provided for in this <U>Section 7(b)</U>, without affecting its rights
under this Agreement or the separation agreement and general release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by Death or Disability</U>. In the event of the termination of the employment of the Executive by reason of death or Disability, the
Executive (or, as applicable, his estate or personal representative) shall be entitled to unpaid Base Salary through, and any unpaid
reimbursable expenses outstanding as of, the Termination Date. In the event of the termination of the employment of the Executive by
reason of death or Disability, except as provided in this <U>Section 7(c)</U> and such rights granted by COBRA, the Company shall have
no further liability to the Executive or the Executive&#8217;s heirs, beneficiaries or estate for damages, compensation, benefits, severance,
indemnities or other amounts of whatever nature, directly or indirectly, arising out of or otherwise related to this Agreement and the
Executive&#8217;s employment or cessation of employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">8.</TD><TD STYLE="text-align: justify; width: 89%"><U>Protective Covenants and Protection of Confidential Information</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 25pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>. As used in this <U>Section 8</U>, the following terms shall have the meanings set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;<B>Company</B>&#8221; means Stagwell Inc. and each of its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin: 0pt 25pt 0pt 20pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;<B>Client</B>&#8221; means any Person (as defined below) to whom, at any time during the period that the Executive was in the employ
of the Company, the Company (x) rendered services or (y) made a Pitch.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;<B>Person</B>&#8221; means and includes an individual, a company, a joint venture, a corporation (including any non-profit
corporation), an estate, an association, a trust, a general or limited partnership, a limited liability company, a limited liability
partnership, an unincorporated organization and a government or other department or agency thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;<B>Pitch</B>&#8221; means a new business presentation or similar offering of services; <U>provided</U>, <U>however</U>, a general
mailing or an incidental contact shall not be deemed a Pitch.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;<B>Post-Employment Restriction Period</B>&#8221; means the period of time commencing on the Termination Date and continuing until
the end of the twenty- four (24) month period following the Termination Date. For greater clarity, the Post-Employment Restriction Period
shall commence at the end of the ninety (90)- day notice period <U>referred to in Section 2 of this Agreement</U> in the event that a
Notice of Termination is delivered pursuant to <U>Section 2</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;<B>Restricted Client</B>&#8221; means (x) anyone who was a Client of the Company on the Termination Date or at any time during
the one-year period immediately preceding the Termination Date, and (y) any prospective Client to whom the Company made a Pitch at any
time during the one-year period prior to, or the six month period immediately following, the Termination Date, but with respect to any
Pitch made after the Termination Date, only if the Executive participated in or had a supervisory responsibility or other involvement
in the discussions with the potential Client preceding the Pitch and/or participated in the preparation of the Pitch and/or the actual
Pitch. In addition, if the Restricted 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 &#8220;<B>Client Group</B>&#8221;), the term &#8220;Restricted Client&#8221;
as used herein shall include each entity, division and operating unit of the Client Group 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;<B>Restricted Business</B>&#8221; means the business of any advertising, marketing, digital (non-technology) or communication services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 &#8220;<B>Restricted Territory</B>&#8221; means the United States and any other geographic area in which the Company or any of its controlled
subsidiaries or managerially controlled affiliates render services to its Clients.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictions
on Certain Activities</U>. The Executive acknowledges (i) that the business and the industry in which the Company competes is highly
competitive; (ii) that as a key executive of the Company whose responsibilities and duties require is involvement in all aspects of
the business of the Company, he may participate in the servicing of Clients and/or the solicitation of prospective clients, through
which, among other things, the Executive has obtained and will continue to obtain knowledge of the &#8220;know-how&#8221; and
business practices of the Company, in which matters the Company has a substantial proprietary interest; (iii) that his employment
hereunder requires the performance of services which are special, unique, extraordinary and intellectual in character, and his
senior position with the Company places him in a position of confidence and trust with the Clients and employees of the Company;
(iv) that as a key executive of the Company he has participated in and will continue to participate in the solicitation and hiring
of executives and other employees of the Company and that his senior position with the Company has put him, and will put him in a
position of becoming very familiar with the talents, needs, capabilities and characteristics of such employees and executives; and
(v) that his rendering of services to the Clients and his supervisory responsibilities involving employees of the Company
necessarily required and will continue to require the disclosure to the Executive of Confidential Information (as defined in <U>Section
8(c)</U> hereof) of the Company. In the course of the Executive&#8217;s employment with the Company, the Executive may develop a
personal relationship with the Clients of the Company and a knowledge of those Clients&#8217; affairs and requirements, and the
relationship of the Company with its established clientele will therefore be placed in the Executive&#8217;s hands in confidence and
trust. The Executive consequently acknowledges that it is a legitimate interest of the Company, and reasonable and necessary for the
protection of the Confidential Information, goodwill and business of the Company, which is valuable to the Company, that the
Executive make the covenants contained herein and that the Company would not have entered into this Agreement unless the covenants
set forth in this Section 8 were contained in this Agreement. Accordingly, except as acknowledged below, the Executive agrees that
he will not, as an individual, employee, consultant, independent contractor, partner, shareholder, member or in association with any
other Person, except on behalf of the Company, directly or indirectly, and regardless of the Executive continuing to be employed by
the Company, or the reason for the Executive ceasing to be so employed by the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
during the Term and continuing until the end of the Severance Period, solicit business on behalf of, render any competitive services to,
engage in, guaranty any obligations of, extend credit to, or have any ownership interest or other affiliation in, any business or other
endeavor, which is engaged in the Restricted Business in the Restricted Territory; <U>provided</U>, <U>however</U>, that nothing contained
in this clause (i) shall be deemed to prevent the undersigned from owning less than 1% of the shares of any publicly held corporation
engaged in any such business or from any other rights granted in this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
during the Post-Employment Restriction Period, in the Restricted Territory, solicit, render services to or for, or accept from, anyone
who is a Restricted Client, any Restricted Business of the type performed by the Company, or persuade or attempt in any manner to persuade
any Restricted Client to cease to do any business of the type performed by the Company or to reduce the amount of business which any such
Restricted Client has customarily done or is reasonably expected to do with the Company, whether or not the relationship between the Company
and such Restricted Client was originally established in whole or in part through the Executive&#8217;s efforts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
during the Post-Employment Restriction Period, be employed in the Restricted Territory by a Restricted Client to solicit or render services
of the type performed by the Company for such Restricted Client without prior written approval by the Company (the determination of which
shall not be unreasonably delayed); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 20pt; text-align: justify; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
during the Post-Employment Restriction Period, employ as an employee or retain as a consultant, any individual who is then or at any time
during the one-year period prior to the Termination Date was, an employee of or exclusive consultant to, the Company, 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 any other Person without prior written approval by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidential
Information</U>. In the course of the Executive&#8217;s employment with the Company, he will acquire and have access to confidential
or proprietary information about the Company and/or its clients, 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, client contacts, client preferences, creative policies and ideas, advertising campaigns, creative and media materials,
graphic design materials, sales promotions and campaigns, sales presentation materials, budgets, practices, concepts, strategies, methods
of operation, financial or business projections of the Company and information about or received from clients and other companies with
which the Company does business. The foregoing shall be collectively referred to as &#8220;<B>confidential information</B>&#8221;. The
Executive is aware that the confidential information is not readily available to the public and accordingly, the Executive also agrees
that he will not at any time (whether during the Term or after termination of this Agreement) disclose to anyone (other than his counsel
in the course of a dispute arising from the alleged disclosure of confidential information or as required by law) any confidential information,
or utilize such confidential information for his own benefit, or for the benefit of third parties. The Executive agrees that the foregoing
restrictions shall apply whether or not any such information is marked &#8220;confidential&#8221; and regardless of the form of the information.
The term &#8220;confidential information&#8221; does not include information which (i) is or becomes generally available to the public
other than by breach of this provision or (ii) the Executive learns from a third party who is not under an obligation of confidence to
the Company or a client of the Company. In the event that the Executive becomes legally required to disclose any confidential information,
he will provide the Company with prompt notice thereof so that the Company may seek a protective order or other appropriate remedy and/or
waive compliance with the provisions of this <U>Section 8(b)</U> to permit a particular disclosure. In the event that such protective
order or other remedy is not obtained, or that the Company waives compliance with the provisions of this <U>Section 8(b)</U> to permit
a particular disclosure, the Executive will furnish only that portion of the confidential information which he is legally required to
disclose and, at the Company&#8217;s expense, will cooperate with the efforts of the Company to obtain a protective order or other reliable
assurance that confidential treatment will be accorded the confidential information. The Executive further agrees that all memoranda,
disks, files, notes, records or other documents, whether in electronic form or hard copy (collectively, the &#8220;<B>material</B>&#8221;)
compiled by him or made available to him during his employment with the Company (whether or not the material constitutes or contains
confidential information), and in connection with the performance of his duties hereunder, shall be the property of the Company and shall
be delivered to the Company on the termination of the Executive&#8217;s employment with the Company or at any other time upon request.
Except in connection with the Executive&#8217;s employment with the Company, the Executive agrees that he will not make or retain copies
or excerpts of the material, provided that the Executive shall be entitled to retain his personal files.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">Nothing
in this Agreement shall prohibit or impede the Executive from communicating, cooperating or filing a complaint with any U.S.
federal, state or local governmental or law enforcement branch, agency or entity (collectively, a &#8220;<B>Governmental
Entity</B>&#8221;) with respect to possible violations of any U.S. federal, state or local law or regulation, or otherwise making
disclosures to any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or
regulation, provided that in each case such communications and disclosures are consistent with applicable law. The Executive
understands and acknowledges that an individual 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 (x) in confidence to a federal, state, or local government official or
to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (y) in a complaint or other
document filed in a lawsuit or other proceeding, if such filing is made under seal. The Executive understands and acknowledges
further that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may
disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the
individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to
court order. For purposes of this Agreement, each of the foregoing communications or disclosures is a &#8220;<B>Protected
Disclosure</B>&#8221;. The Executive does not need to give prior notice to (or get authorization from) the Company regarding any
Protected Disclosure. Except as otherwise provided in this <U>Section 8(b)</U> or under applicable law, notwithstanding the
foregoing, under no circumstance will the Executive be authorized to disclose any information covered by attorney- client privilege
or attorney work product of the Company, or the Company&#8217;s trade secrets, without prior written consent of the Company&#8217;s
General Counsel or other officer designated by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Remedies; Acknowledgments</U>. If the Executive commits or threatens to commit a breach of any of the provisions of <U>Sections 8(a)</U>
or <U>(b)</U>, the Company shall have the right to have the provisions of this Agreement specifically enforced by any court having jurisdiction
without being required to post bond or other security and without having to prove the inadequacy of the available remedies at law, it
being acknowledged and agreed that any such breach or threatened breach will cause irreparable injury to the Company and that money damages
will not provide an adequate remedy to the Company. In addition, the Company may take all such other actions and remedies available to
it under law or in equity and shall be entitled to such damages as it can show it has sustained by reason of such breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The
parties acknowledge that (i) the type and periods of restriction imposed in the provisions of <U>Sections 8(a)</U> and <U>(b)</U>
are fair and reasonable and are reasonably required in order to protect and maintain the proprietary interests of the Company
described above, other legitimate business interests and the goodwill associated with the business of the Company; (ii) the time,
scope and other provisions of this <U>Section 8</U> have been specifically negotiated by sophisticated parties, represented by legal
counsel, and are given as an integral part of the transactions contemplated by this Agreement; and (iii) because of the nature of
the business engaged in by the Company and the fact that clients can be and are serviced by the Company wherever they are located,
it is impractical and unreasonable to place a geographic limitation on the agreements made by the Executive herein. The Executive
specifically acknowledges that his being restricted from soliciting and servicing Restricted Clients as contemplated by this
Agreement will not prevent him from being employed or earning a livelihood in the type of business conducted by the Company. If any
of the covenants contained in <U>Sections 8(a)</U> and <U>(b)</U>, or any part thereof, is held to be unenforceable by reason of it
extending for too great a period of time or over too great a geographic area or by reason of it being too extensive in any other
respect, the parties agree (x) such covenant shall be interpreted to extend only over the maximum period of time for which it may be
enforceable and/or over the maximum geographic areas as to which it may be enforceable and/or over the maximum extent in all other
respects as to which it may be enforceable, all as determined by the court making such determination and (y) in its reduced form,
such covenant shall then be enforceable, but such reduced form of covenant shall only apply with respect to the operation of such
covenant in the particular jurisdiction in or for which such adjudication is made. Each of the covenants and agreements contained in
this <U>Section 8</U> (collectively, the &#8220;<B>Protective Covenants</B>&#8221;) is separate, distinct and severable. All rights,
remedies and benefits expressly provided for in this Agreement are cumulative and are not exclusive of any rights, remedies or
benefits provided for by law or in this Agreement, and the exercise of any remedy by a party hereto shall not be deemed an election
to the exclusion of any other remedy (any such claim by the other party being hereby waived). The existence of any claim, demand,
action or cause of action of the Executive against the Company, whether predicated on this Agreement or otherwise, shall not
constitute a defense to the enforcement by the Company of each Protective Covenant. The unenforceability of any Protective Covenant
shall not affect the validity or enforceability of any other Protective Covenant or any other provision or provisions of this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 76.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notification
of Restrictive Covenants</U>. Prior to accepting employment with any person, firm or entity during the Post-Employment Restriction Period,
the Executive shall notify the prospective employer in writing of his obligations pursuant to this <U>Section 8</U> (it being agreed
by the Company that such notification required under this <U>Section 8(e)</U> shall not be deemed a breach of the confidentiality provisions
of this Agreement). Executive may provide a copy of the provisions of this <U>Section 8</U> to any such prospective employer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tolling</U>.
The temporal duration of the covenants set forth in <U>Section 8</U> of this Agreement shall not expire, and shall be tolled, during
any period in which the Executive is in violation of any such covenants, and all restrictions shall automatically be extended by the
period of the Executive&#8217;s violation of any such restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">9.</TD><TD STYLE="text-align: justify; width: 89%"><U>Intellectual Property</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The Executive agrees
that all materials created or modified by him during the Term, including, without limitation, all works of authorship, inventions, processes,
ideas, methods, concepts and other tangible and intangible materials (collectively, &#8220;<B>Work Product</B>&#8221;), shall be &#8220;work
for hire&#8221; and that the Company shall be the exclusive owner of the Work Product and all intellectual property rights associated
with the Work Product, including all trademarks, patents or copyrights contained therein. To the extent any Work Product does not qualify
as &#8220;work for hire&#8221;, the Executive hereby assigns ownership of all such Work Product to the Company and agrees to take all
reasonable measures, at the Company&#8217;s expense, to perfect such rights in the Company. The Executive hereby appoints the Company
as his attorney-in-fact with the limited power to execute assignments of such Work Product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">10.</TD><TD STYLE="text-align: justify; width: 89%"><U>Enforceability</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The
failure of any party at any time to require performance by another party of any provision hereunder shall in no way affect the right
of that party thereafter to enforce the same, nor shall it affect any other party&#8217;s right to enforce the same, or to enforce
any of the other provisions in this Agreement; nor shall the waiver by any party of the breach of any provision hereof be taken or
held to be a waiver of any subsequent breach of such provision or as a waiver of the provision itself.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">11.</TD><TD STYLE="text-align: justify; width: 89%"><U>Assignment</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The Company and
the Executive agree that the Company shall have the right to assign this Agreement, and, accordingly, this Agreement shall inure to the
benefit of, and may be enforced by, any and all successors and assigns of the Company and/or its business, including, without limitation,
by asset assignment, stock sale, merger, consolidation or other corporate reorganization. The Company and Executive agree that Executive&#8217;s
rights and obligations under this Agreement are personal to the Executive, and the Executive shall not have the right to assign or otherwise
transfer his rights or obligations under this Agreement. The rights and obligations of the Company hereunder shall be binding upon and
run in favor of the successors and assigns of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">12.</TD><TD STYLE="text-align: justify; width: 89%"><U>Modification</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">This Agreement may
not be orally canceled, changed, modified or amended, and no cancellation, change, modification or amendment shall be effective or binding,
unless in writing and signed by the parties to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">13.</TD><TD STYLE="text-align: justify; width: 89%"><U>Severability; Survival</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">In the event any
provision or portion of this Agreement is determined to be invalid or unenforceable for any reason, in whole or in part, the remaining
provisions of this Agreement shall nevertheless be binding upon the parties with the same effect as though the invalid or unenforceable
part had been severed and deleted or reformed to be enforceable. The respective rights and obligations of the parties hereunder (including,
but not limited to those contained in <U>Section 8</U>) shall survive the termination of the Executive&#8217;s employment, the Term and
the termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">14.</TD><TD STYLE="text-align: justify; width: 89%"><U>Notice</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">Any notice, request,
instruction or other document to be given hereunder by any party hereto to another party shall be in writing and shall be deemed effective
(a) upon personal delivery, if delivered by hand, or (b) three days after the date of deposit in the mails, sent certified or registered
mail, postage prepaid and return receipt requested, or (c) on the next business day, if sent by prepaid overnight courier service or facsimile
transmission or electronic mail (if electronically confirmed), and in each case, addressed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 27pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify"><U>If to the Executive:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify">Jay Leveton</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 252.25pt 0pt 99pt; text-align: justify">[ADDRESS]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 252.25pt 0pt 99pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 312.2pt 0pt 99pt; text-align: justify"><U>If to the Company</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 312.2pt 0pt 99pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify">Stagwell Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 252.25pt 0pt 99pt; text-align: justify">One World Trade Center, Floor
65</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 252.25pt 0pt 99pt; text-align: justify">New York, NY 10007</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify">Attn: Legal</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">Any party may change
the address to which notices are to be sent by giving notice of such change of address to the other party in the manner herein provided
for giving notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">15.</TD><TD STYLE="text-align: justify; width: 89%"><U>No Conflict</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The Executive represents
and warrants that he is not subject to any agreement, instrument, order, judgment or decree of any kind, or any other restrictive agreement
of any character, which would prevent him from entering into this Agreement or which would be breached by the Executive upon his performance
of his duties pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">16.</TD><TD STYLE="text-align: justify; width: 89%"><U>Entire Agreement; Applicable Law</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">This Agreement and
the documents referenced herein represent the entire agreement between the Company and the Executive with respect to the employment of
the Executive by the Company. This Agreement shall be governed by, enforced under, and construed in accordance with the laws of the State
of New York applicable therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">17.</TD><TD STYLE="text-align: justify; width: 89%"><U>Counterparts</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">This Agreement may
be executed in one or more counterparts, and each such counterpart shall be deemed an original instrument, but all such counterparts taken
together shall constitute but one agreement. Facsimile and pdf signatures shall constitute an original.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%; text-align: left"><B>18.</B></TD><TD STYLE="text-align: justify; width: 89%"><B><U>409A Compliance</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">This
Agreement is intended to comply, to the extent applicable, with Section 409A of the Internal Revenue Code of 1986, as amended (the
 &#8220;Code&#8221;) and will be so interpreted. For purposes of this Agreement, a termination of Executive&#8217;s services on the
Termination Date shall be determined in a manner consistent with the rules relating to &#8220;separation from service&#8221; within
the meaning of Section 409A of the Code and the regulations thereunder, if necessary in order to prevent the imposition of any
accelerated or additional tax under Section 409A of the Code. Notwithstanding anything herein to the contrary, (i) if on the
Termination Date Executive is a &#8220;specified employee&#8221; as defined in Section 409A of the Code, and the deferral of the
commencement of any payments or benefits otherwise payable hereunder as a result of such termination the Agreement is necessary in
order to prevent the imposition of any accelerated or additional tax under Section 409A of the Code, then the Company will (A) defer
the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits
ultimately paid or provided to Executive) until the date that is six months following the Termination Date (or the earliest date as
is permitted under Section 409A of the Code), and (B) add to such payment or benefit an interest payment for the six-month period
calculated using the short-term Applicable Federal Rate (monthly compounded) as in effect on the Termination Date under Section
1274(d) of the Internal Revenue Code and (ii) if any other payments of money or other benefits due to the Executive hereunder could
cause the application of an accelerated or additional tax under Section 409A of the Code, the parties agree to restructure the
payments or benefits to comply with Section 409A of the Code in a manner which does not diminish the value of such payments and
benefits to the Executive. To the extent any reimbursements or in-kind benefits due to the Executive under this Agreement constitute
 &#8220;deferred compensation&#8221; under Section 409A of the Code, any such reimbursements or in-kind benefits shall be paid in a
manner consistent with Treas. Reg. Section 1.409A-3(i)(1)(iv). If under this Agreement, an amount is paid in two or more
installments, each installment shall be treated as a &#8220;separate payment&#8221; within the meaning of 409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: center">* * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 25pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"><B>IN WITNESS
WHEREOF,</B> the parties have executed this Agreement as of day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STAGWELL INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 2%">/s/</TD>
    <TD STYLE="width: 46%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Mark Penn</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark Penn</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CEO</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>JAY LEVETON</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Jay Leveton</FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0pt">&nbsp;</P>

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<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

<P STYLE="margin: 0pt">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tm2127735d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0">Exhibit 10.2</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-decoration: none">EMPLOYMENT
AGREEMENT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"><B>EMPLOYMENT AGREEMENT</B>
(this &#8220;Agreement&#8221;), dated as of <U>9/12/21 </U> by and between <B>STAGWELL INC.</B>, and its affiliates (the &#8220;Company&#8221;),
and <B>RYAN GREENE</B> (the &#8220;Executive&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-decoration: none">W
I T N E S S E T H:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"><B>WHEREAS</B>,
the Company wishes to employ the Executive, and the Executive wishes to accept such employment, upon the terms and conditions hereinafter
set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 27pt; text-align: justify; text-indent: 74pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"><B>NOW</B>, <B>THEREFORE</B>,
in consideration of the premises and other good and valuable consideration, receipt of which is hereby acknowledged, the parties hereto
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">1.</TD><TD STYLE="text-align: justify; width: 89%"><U>Employment</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The Company agrees
to employ the Executive during the Term specified in <U>Section 2</U>, and the Executive agrees to accept such employment, upon the terms
and conditions hereinafter set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">2.</TD><TD STYLE="text-align: justify; width: 89%"><U>Term</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">Subject to the provisions
contained in Sections 6 and 7, the Executive&#8217;s employment by the Company shall be for a term (the &#8220;<B>Term</B>&#8221;) commencing
as soon as practicable as mutually agreed between the Company and the Executive and as approved by the Compensation Committee of Stagwell
Inc.&#8217;s Board of Directors (the &#8220;<B>Board</B>&#8221;), but not later than September 1, 2021 (the &#8220;<B>Commencement Date</B>&#8221;),
and continuing for an indefinite period thereafter unless and until (i) the Executive delivers to the Company ninety (90) days&#8217;
advance written notice of resignation (a &#8220;Notice of Termination&#8221;) (ii) the Company terminates the Executive&#8217;s employment
with or without &#8220;Cause&#8221; (as defined herein) or (iii) the Agreement is terminated due to the Executive&#8217;s death or &#8220;Disability&#8221;
(as defined herein). Any Notice of Termination given by the Executive under this Section 2 shall specify the date of termination and the
fact that the notice is being delivered pursuant to Section 2 of this Agreement. In the event that the Executive delivers a Notice of
Termination, the Company shall have the right to either (i) waive all or part of such ninety (90)-day notice period or (ii) at any time
during such ninety (90)-day notice period to relieve the Executive of all or any portion of his offices, duties and responsibilities and
place him on a paid leave-of-absence status. The date on which the Executive ceases to be employed by the Company, regardless of the reason
therefor, is referred to in this Agreement as the &#8220;<B>Termination Date</B>&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">3.</TD><TD STYLE="text-align: justify; width: 89%"><U>Duties and Responsibilities</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Title</U>.
During the Term, the Executive shall have the position of Chief Operating Officer, or such other leadership title as the Chief Executive
Officer of the Company may designate.</P>




<P STYLE="text-indent: 0.75in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duties</U>.
The Executive shall report directly to the Chief Executive Officer of the Company or his designee. The Executive shall work closely with
the Chief Financial Officer on matters related to public finance. The Executive shall oversee and manage the team responsible for shared
services, including real estate, human resources, finance and IT. The Executive also shall perform such executive and managerial duties
and responsibilities customary to his office and as are reasonably necessary to the operations of the Company. The Chief Executive Officer
may direct or require the Executive to undertake other or different leadership duties if in the reasonable judgment of the Chief Executive
Officer such duties are in the best interests of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Responsibilities;
Scope of Employment</U>. The Executive&#8217;s employment by the Company shall be full-time and exclusive, except as noted in this Agreement,
and during the Term, the Executive agrees that he will (i) devote all of his business time and attention, his best efforts, and all his
skill and ability to promote the interests of the Company, and (ii) carry out his duties in a competent manner and serve the Company
faithfully and diligently under the direction of the Chief Executive Officer. Notwithstanding the foregoing, the Company acknowledges
and agrees that Executive may continue to receive carried interest from Executive&#8217;s contractual arrangement with Stagwell Group
Holdings and such contractual arrangement for carried interest or other passive investment therein in no way violates the terms of this
Agreement. Additionally, Executive shall be permitted to engage in to manage his personal passive investments, provided that such passive
investments are not in a company which transacts business with the Company or engages in business competitive with that conducted by
the Company (or, if such company does transact business with the Company, or does engage in a competitive business, it is a publicly
held corporation and the Executive&#8217;s participation is limited to owning less than 1% of its outstanding shares), excepting and
further provided that any such activities, individually or in the aggregate, do not interfere with the performance of his duties or responsibilities
under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Office
Location</U>. During the Term, the Executive&#8217;s services hereunder shall be performed at the offices of the Company in Washington,
DC, subject to necessary travel requirements in order to carry out his duties in connection with his position hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">4.</TD><TD STYLE="text-align: justify; width: 89%"><U>Compensation</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Base
Salary</U>. As compensation for his services hereunder, during the Term, the Company shall pay the Executive, in accordance with its
normal payroll practices, an annualized base salary of $575,000, which may be increased from time to time by the Board, subject to customary
withholding for federal, state and local taxes (such annualized base salary, as it may be so increased, &#8220;<B>Base Salary</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Annual
Discretionary Bonus Eligibility</U>. During the Term, the Executive will be eligible to receive an annual discretionary bonus in a target
amount equal to 75% of his Base Salary, which target amount may be increased from time to time by the Board. The annual discretionary
bonus shall be based upon criteria determined by the Chief Executive Officer and the Compensation Committee of the Board, which criteria
will include the Executive&#8217;s performance, the overall financial performance of the Company, and such other factors as the Chief
Executive Officer and the Compensation Committee deem reasonable and appropriate in their discretion (such annual discretionary bonus,
as it may be increased, the &#8220;<B>Annual Discretionary Bonus</B>&#8221;). The Annual Discretionary Bonus will be paid in accordance
with the Company&#8217;s normal bonus payment procedures, subject to customary withholding for federal, state and local taxes. The Annual
Discretionary Bonus for 2021 (the &#8220;<B>2021 Bonus</B>&#8221;) will be pro-rated by one-half, with July 1, 2021 as the start date
of Executive&#8217;s eligibility period for the 2021 Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.9pt 0pt 29pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.9pt 0pt 29pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.9pt 0pt 29pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Grants
under LTIP Plans</U>. The Executive shall be eligible to participate in the Company&#8217;s long-term incentive plans with a target value
and metrics as determined the Chief Executive Officer and the Compensation Committee of the Board. The Company anticipates that the LTIP
grants will be determined in 2022, reflective of Executive&#8217;s work in 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Initial Cash&nbsp;Bonus&nbsp;Award</U><B>.</B>&nbsp;The Company shall pay the Executive a one-time&nbsp;bonus&nbsp;in an amount equal
to $300,000 (the &#8220;<B>Signing&nbsp;Bonus</B>&#8221;) within thirty (30) days after the Commencement Date, subject to applicable withholding
for federal, state, and local taxes. Notwithstanding the foregoing, in the event the Executive resigns or is terminated by the Company
for &#8220;Cause&#8221; within six (6) months of the Commencement Date, you shall immediately pay back to the Company an amount equal
to the full amount of the&nbsp;Signing&nbsp;Bonus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">5.</TD><TD STYLE="text-align: justify; width: 89%"><U>Business and Professional Expenses; Health and Welfare Benefits</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>. During the Term, the Company agrees to pay or to reimburse the Executive for all reasonable, ordinary, necessary, and
documented business or entertainment expenses incurred in the performance of his services hereunder. The Executive, as a condition precedent
to obtaining such payment or reimbursement, shall provide to the Company any and all statements, bills or receipts evidencing the travel
or out-of-pocket expenses for which the Executive seeks payment or reimbursement, and any other information or materials, as the Company
may from time to time reasonably require.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Benefit
Plans</U>. During the Term, the Executive and, to the extent eligible, his dependents, shall be entitled to participate in and receive
all benefits under any group health plans, welfare benefit plans and programs (including without limitation, medical, medical reimbursement,
disability, and group life insurance) provided by the Company to its senior executives generally, subject to the generally applicable
eligibility and other provisions of the various plans and programs in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vacation</U>.
The Executive shall be entitled to twenty (20) days of vacation in accordance with the Company&#8217;s policies, with no right of carry
over, to be taken at such times as shall not materially interfere with the Executive&#8217;s fulfillment of his duties hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">6.</TD><TD STYLE="text-align: justify; width: 89%"><U>Termination</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Termination for Cause. The Company, by direction of the Board or the Chief Executive Officer, shall be entitled to terminate the Term
and to discharge the Executive for Cause effective upon the giving of written notice. The term &#8220;<B>Cause</B>&#8221; shall be limited
to the following grounds:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.75in">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the Executive's failure or refusal to perform his duties and responsibilities as set forth in <U>Section 3</U> hereof, or abide by the
reasonable directives of the Chief Executive Officer or the Board, or the failure of the Executive to devote all of his business time
and attention exclusively to the business and affairs of the Company in accordance with the terms hereof, in each case following written
notice to the Executive from the Chief Executive Officer or the Board specifying such failure and that it may be deemed to be Cause and
a five (5) business day period to perform or cure (if curable);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the willful misappropriation of the funds or property of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the use of alcohol or illegal drugs, materially interfering with the performance of the Executive&#8217;s obligations under this Agreement,
continuing after written warning contained in a notice;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the conviction in a court of law of, or entering a plea of guilty or no contest to, any felony or any crime involving moral turpitude,
dishonesty or theft;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the material nonconformance with the Company&#8217;s standard business practices and policies, including without limitation, policies
against racial or sexual discrimination or harassment, made known to the Executive, which nonconformance is not cured (if curable) within
two (2) days after written notice to the Executive by the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the commission in bad faith by the Executive of any act which materially injures or could reasonably be expected to materially injure
the reputation, business or business relationships of the Company or any subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the gross or habitual misconduct or gross or habitual negligence by the Executive in the performance of his duties which misconduct or
negligence is not cured (if curable) within five (5) business days after written notice to the Executive by the Company; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any material breach (not covered by any of the clauses (i) through (vii) above) of any material term of this Agreement, if such breach
is not cured (if curable) within five (5) business days after written notice thereof to the Executive by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Any notice required to be given by
the Company pursuant to any of the clauses above shall specify the specific nature of the claimed breach and the manner in which the Company
requires such breach to be cured (if curable). In the event that the Executive is purportedly terminated for Cause and a court determines
that Cause as defined herein was not present, then such purported termination for Cause shall be deemed a termination without Cause pursuant
to <U>Section 6(b)</U> and the Executive&#8217;s rights and remedies will be governed by <U>Section 7(b)</U>, in full satisfaction and
in lieu of any and all other or further remedies the Executive may have under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
without Cause</U>. The Company, by direction of the Board or the Chief Executive Officer, shall have the right at any time to immediately
terminate the Term and the employment of the Executive without Cause by giving written notice to the Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination for Death or Disability</U>. In the event of the Executive&#8217;s death, the Termination Date shall be the date of the
Executive&#8217;s death. In the event that (i) the Executive shall be unable to perform his duties hereunder by virtue of illness or physical
or mental incapacity or disability (from any cause or causes whatsoever) in substantially the manner and to the extent required hereunder
prior to the commencement of such disability and (ii) the Executive shall fail to perform such duties for periods aggregating 120 days,
whether or not continuous, in any continuous period of 365 days (all such causes being herein referred to as &#8220;<B>Disability</B>&#8221;),
the Company shall have the right to terminate the Executive&#8217;s employment hereunder as at the end of any calendar month during the
continuance of such Disability upon prior written notice to him.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">7.</TD><TD STYLE="text-align: justify; width: 89%"><U>Effect of Termination of Employment</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by the Company for Cause; or pursuant to a Notice of Termination given by the Executive</U>. In the event of the termination of the employment
of the Executive (1) by the Company for Cause, or (2) by the giving of a Notice of Termination under Section 2 hereof by the Executive,
the Executive shall be entitled to unpaid Base Salary through, and any unpaid reimbursable expenses outstanding as of, the Termination
Date (the &#8220;<B>Accrued Rights</B>&#8221;), and, except as provided in this Section 7(a) and such rights granted by the Consolidated
Omnibus Budget Reconciliation Act (&#8220;<B>COBRA</B>&#8221;), the Company shall have no further liability to the Executive or the Executive&#8217;s
heirs, beneficiaries or estate for damages, compensation, benefits, severance, indemnities or other amounts of whatever nature, directly
or indirectly, arising out of or otherwise related to this Agreement and the Executive&#8217;s employment or cessation of employment
with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of the Executive&#8217;s Employment without Cause</U>. In the event of a termination of the Executive&#8217;s employment without Cause,
the Executive shall be entitled to the following payments:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Accrued Rights as provided in Section 7(a) hereof; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;his applicable Base Salary compensation when otherwise payable for a period commencing on the Termination Date and ending on the end of
the six (6)-month period immediately following the Termination Date (the &#8220;<B>Severance Period</B>&#8221;). The severance amount
described in this Section 7(b)(ii), less applicable withholding of any tax amounts, shall be paid by the Company to the Executive over
the Severance Period in accordance with the Company&#8217;s customary payroll practices; provided that the first payment shall be made
on the Company&#8217;s first normal payroll date following the 60<SUP>th</SUP> day following the Date of Termination, and any payments
that would otherwise have been payable prior to such payroll date shall be paid in a lump sum on such payroll date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-indent: 1in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">In connection with a termination
by the Company without Cause, except as provided in this <U>Section 7(b)</U> and the rights granted by COBRA, the Company shall have
no further liability to the Executive or the Executive&#8217;s heirs, beneficiaries or estate for damages, compensation, benefits,
severance, indemnities or other amounts of whatever nature, directly or indirectly, arising out of or otherwise related to this
Agreement and the Executive&#8217;s employment or cessation of employment with the Company. The Executive shall be under no duty to
mitigate damages hereunder; <U>provided</U>, <U>however</U>, in the event that the Executive obtains any other employment or
consulting arrangement, he shall promptly notify the Company, and any compensation and benefits paid to the Executive therefrom
shall reduce the Company&#8217;s severance obligations under this <U>Section 7(b)</U>. From time to time during the Severance
Period, upon the Company&#8217;s reasonable written request, the Executive shall provide the Company with written verification (such
as wage stubs, tax returns and new employer verifications) of amounts earned from such other employment or consulting arrangements,
as well as when and if he is entitled to receive coverage under the benefit plans of any new employer in which he participates. In
the event the Executive fails to supply such information within twenty (20) days following a written request by the Company, the
obligations of the Company under this <U>Section 7(b)</U> shall terminate. The making of any severance payments and providing the
other benefits as provided in this <U>Section 7(b)</U> is conditioned upon the Executive signing, complying with and not revoking a
separation agreement and general release approved by the Company, and such release becoming effective and irrevocable within 60 days
following the Termination Date. In the event the Executive breaches any material provisions of the separation agreement or any of
the provisions of <U>Section 8</U> of this Agreement, which breach is not cured (if curable) within any applicable cure period, in
addition to any other remedies at law or in equity available to it, the Company may cease making any further payments and providing
the other benefits provided for in this <U>Section 7(b)</U>, without affecting its rights under this Agreement or the separation
agreement and general release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
by Death or Disability</U>. In the event of the termination of the employment of the Executive by reason of death or Disability, the
Executive (or, as applicable, his estate or personal representative) shall be entitled to unpaid Base Salary through, and any unpaid
reimbursable expenses outstanding as of, the Termination Date. In the event of the termination of the employment of the Executive by
reason of death or Disability, except as provided in this <U>Section 7(c)</U> and such rights granted by COBRA, the Company shall have
no further liability to the Executive or the Executive&#8217;s heirs, beneficiaries or estate for damages, compensation, benefits, severance,
indemnities or other amounts of whatever nature, directly or indirectly, arising out of or otherwise related to this Agreement and the
Executive&#8217;s employment or cessation of employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">8.</TD><TD STYLE="text-align: justify; width: 89%"><U>Protective Covenants and Protection of Confidential Information</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.75in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.
As used in this <U>Section 8</U>, the following terms shall have the meanings set forth below:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<B>Company</B>&#8221; means Stagwell Inc. and each of its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<B>Client</B>&#8221; means any Person (as defined below) to whom, at any time during the period that the Executive was in the employ
of the Company, the Company (x) rendered services or (y) made a Pitch.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<B>Person</B>&#8221; means and includes an individual, a company, a joint venture, a corporation (including any non-profit
corporation), an estate, an association, a trust, a general or limited partnership, a limited liability company, a limited liability
partnership, an unincorporated organization and a government or other department or agency thereof.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<B>Pitch</B>&#8221; means a new business presentation or similar offering of services; <U>provided</U>, <U>however</U>, a general
mailing or an incidental contact shall not be deemed a Pitch.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<B>Post-Employment Restriction Period</B>&#8221; means the period of time commencing on the Termination Date and continuing until
the end of the twenty- four (24) month period following the Termination Date. For greater clarity, the Post-Employment Restriction Period
shall commence at the end of the ninety (90)- day notice period <U>referred to in Section 2 of this Agreement</U> in the event that a
Notice of Termination is delivered pursuant to <U>Section 2</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<B>Restricted Client</B>&#8221; means (x) anyone who was a Client of the Company on the Termination Date or at any time during
the one-year period immediately preceding the Termination Date, and (y) any prospective Client to whom the Company made a Pitch at any
time during the one-year period prior to, or the six month period immediately following, the Termination Date, but with respect to any
Pitch made after the Termination Date, only if the Executive participated in or had a supervisory responsibility or other involvement
in the discussions with the potential Client preceding the Pitch and/or participated in the preparation of the Pitch and/or the actual
Pitch. In addition, if the Restricted 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 &#8220;<B>Client Group</B>&#8221;), the term &#8220;Restricted Client&#8221;
as used herein shall include each entity, division and operating unit of the Client Group 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<B>Restricted Business</B>&#8221; means the business of any advertising, marketing, digital (non-technology) or communication services.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#8220;<B>Restricted Territory</B>&#8221; means the United States and any other geographic area in which the Company or any of its controlled
subsidiaries or managerially controlled affiliates render services to its Clients.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictions
on Certain Activities</U>. The Executive acknowledges (i) that the business and the industry in which the Company competes is highly
competitive; (ii) that as a key executive of the Company whose responsibilities and duties require is involvement in all aspects of the
business of the Company, he may participate in the servicing of Clients and/or the solicitation of prospective clients, through which,
among other things, the Executive has obtained and will continue to obtain knowledge of the &#8220;know-how&#8221; and business practices
of the Company, in which matters the Company has a substantial proprietary interest; (iii) that his employment hereunder requires the
performance of services which are special, unique, extraordinary and intellectual in character, and his senior position with the Company
places him in a position of confidence and trust with the Clients and employees of the Company; (iv) that as a key executive of the Company
he has participated in and will continue to participate in the solicitation and hiring of executives and other employees of the Company
and that his senior position with the Company has put him, and will put him in a position of becoming very familiar with the talents,
needs, capabilities and characteristics of such employees and executives; and (v) that his rendering of services to the Clients and his
supervisory responsibilities involving employees of the Company necessarily required and will continue to require the disclosure to the
Executive of Confidential Information (as defined in <U>Section 8(c)</U> hereof) of the Company. In the course of the Executive&#8217;s
employment with the Company, the Executive may develop a personal relationship with the Clients of the Company and a knowledge of those
Clients&#8217; affairs and requirements, and the relationship of the Company with its established clientele will therefore be placed
in the Executive&#8217;s hands in confidence and trust. The Executive consequently acknowledges that it is a legitimate interest of the
Company, and reasonable and necessary for the protection of the Confidential Information, goodwill and business of the Company, which
is valuable to the Company, that the Executive make the covenants contained herein and that the Company would not have entered into this
Agreement unless the covenants set forth in this Section 8 were contained in this Agreement. Accordingly, except as acknowledged below,
the Executive agrees that he will not, as an individual, employee, consultant, independent contractor, partner, shareholder, member or
in association with any other Person, except on behalf of the Company, directly or indirectly, and regardless of the Executive continuing
to be employed by the Company, or the reason for the Executive ceasing to be so employed by the Company:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the Term and continuing until the end of the Severance Period, solicit business on behalf of, render any competitive services to,
engage in, guaranty any obligations of, extend credit to, or have any ownership interest or other affiliation in, any business or other
endeavor, which is engaged in the Restricted Business in the Restricted Territory; <U>provided</U>, <U>however</U>, that nothing contained
in this clause (i) shall be deemed to prevent the undersigned from owning less than 1% of the shares of any publicly held corporation
engaged in any such business or from any other rights granted in this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the Post-Employment Restriction Period, in the Restricted Territory, solicit, render services to or for, or accept from, anyone
who is a Restricted Client, any Restricted Business of the type performed by the Company, or persuade or attempt in any manner to persuade
any Restricted Client to cease to do any business of the type performed by the Company or to reduce the amount of business which any such
Restricted Client has customarily done or is reasonably expected to do with the Company, whether or not the relationship between the Company
and such Restricted Client was originally established in whole or in part through the Executive&#8217;s efforts;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the Post-Employment Restriction Period, be employed in the Restricted Territory by a Restricted Client to solicit or render services
of the type performed by the Company for such Restricted Client without prior written approval by the Company (the determination of which
shall not be unreasonably delayed); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 101pt; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1in; text-align: justify; text-indent: 0.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;during the Post-Employment Restriction Period, employ as an employee or retain as a consultant, any individual who is then or at any time
during the one-year period prior to the Termination Date was, an employee of or exclusive consultant to, the Company, 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 any other Person without prior written approval by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidential
Information</U>. In the course of the Executive&#8217;s employment with the Company, he will acquire and have access to confidential
or proprietary information about the Company and/or its clients, 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, client contacts, client preferences, creative policies and ideas, advertising campaigns, creative and media materials,
graphic design materials, sales promotions and campaigns, sales presentation materials, budgets, practices, concepts, strategies, methods
of operation, financial or business projections of the Company and information about or received from clients and other companies with
which the Company does business. The foregoing shall be collectively referred to as &#8220;<B>confidential information</B>&#8221;. The
Executive is aware that the confidential information is not readily available to the public and accordingly, the Executive also agrees
that he will not at any time (whether during the Term or after termination of this Agreement) disclose to anyone (other than his counsel
in the course of a dispute arising from the alleged disclosure of confidential information or as required by law) any confidential information,
or utilize such confidential information for his own benefit, or for the benefit of third parties. The Executive agrees that the foregoing
restrictions shall apply whether or not any such information is marked &#8220;confidential&#8221; and regardless of the form of the information.
The term &#8220;confidential information&#8221; does not include information which (i) is or becomes generally available to the public
other than by breach of this provision or (ii) the Executive learns from a third party who is not under an obligation of confidence to
the Company or a client of the Company. In the event that the Executive becomes legally required to disclose any confidential information,
he will provide the Company with prompt notice thereof so that the Company may seek a protective order or other appropriate remedy and/or
waive compliance with the provisions of this <U>Section 8(b)</U> to permit a particular disclosure. In the event that such protective
order or other remedy is not obtained, or that the Company waives compliance with the provisions of this <U>Section 8(b)</U> to permit
a particular disclosure, the Executive will furnish only that portion of the confidential information which he is legally required to
disclose and, at the Company&#8217;s expense, will cooperate with the efforts of the Company to obtain a protective order or other reliable
assurance that confidential treatment will be accorded the confidential information. The Executive further agrees that all memoranda,
disks, files, notes, records or other documents, whether in electronic form or hard copy (collectively, the &#8220;<B>material</B>&#8221;)
compiled by him or made available to him during his employment with the Company (whether or not the material constitutes or contains
confidential information), and in connection with the performance of his duties hereunder, shall be the property of the Company and shall
be delivered to the Company on the termination of the Executive&#8217;s employment with the Company or at any other time upon request.
Except in connection with the Executive&#8217;s employment with the Company, the Executive agrees that he will not make or retain copies
or excerpts of the material, provided that the Executive shall be entitled to retain his personal files.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">Nothing in
this Agreement shall prohibit or impede the Executive from communicating, cooperating or filing a complaint with any U.S. federal,
state or local governmental or law enforcement branch, agency or entity (collectively, a &#8220;<B>Governmental Entity</B>&#8221;)
with respect to possible violations of any U.S. federal, state or local law or regulation, or otherwise making disclosures to any
Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation, provided
that in each case such communications and disclosures are consistent with applicable law. The Executive understands and acknowledges
that an individual 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 (x) in confidence to a federal, state, or local government official or to an attorney solely for the
purpose of reporting or investigating a suspected violation of law, or (y) in a complaint or other document filed in a lawsuit or
other proceeding, if such filing is made under seal. The Executive understands and acknowledges further that an individual who files
a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of
the individual and use the trade secret information in the court proceeding, if the individual files any document containing the
trade secret under seal and does not disclose the trade secret, except pursuant to court order. For purposes of this Agreement, each
of the foregoing communications or disclosures is a &#8220;<B>Protected Disclosure</B>&#8221;. The Executive does not need to give
prior notice to (or get authorization from) the Company regarding any Protected Disclosure. Except as otherwise provided in this <U>Section
8(b)</U> or under applicable law, notwithstanding the foregoing, under no circumstance will the Executive be authorized to disclose
any information covered by attorney- client privilege or attorney work product of the Company, or the Company&#8217;s trade secrets,
without prior written consent of the Company&#8217;s General Counsel or other officer designated by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Remedies;
Acknowledgments</U>. If the Executive commits or threatens to commit a breach of any of the provisions of <U>Sections 8(a)</U> or <U>(b)</U>,
the Company shall have the right to have the provisions of this Agreement specifically enforced by any court having jurisdiction without
being required to post bond or other security and without having to prove the inadequacy of the available remedies at law, it being acknowledged
and agreed that any such breach or threatened breach will cause irreparable injury to the Company and that money damages will not provide
an adequate remedy to the Company. In addition, the Company may take all such other actions and remedies available to it under law or
in equity and shall be entitled to such damages as it can show it has sustained by reason of such breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The parties
acknowledge that (i) the type and periods of restriction imposed in the provisions of <U>Sections 8(a)</U> and <U>(b)</U> are fair
and reasonable and are reasonably required in order to protect and maintain the proprietary interests of the Company described
above, other legitimate business interests and the goodwill associated with the business of the Company; (ii) the time, scope and
other provisions of this <U>Section 8</U> have been specifically negotiated by sophisticated parties, represented by legal counsel,
and are given as an integral part of the transactions contemplated by this Agreement; and (iii) because of the nature of the
business engaged in by the Company and the fact that clients can be and are serviced by the Company wherever they are located, it is
impractical and unreasonable to place a geographic limitation on the agreements made by the Executive herein. The Executive
specifically acknowledges that his being restricted from soliciting and servicing Restricted Clients as contemplated by this
Agreement will not prevent him from being employed or earning a livelihood in the type of business conducted by the Company. If any
of the covenants contained in <U>Sections 8(a)</U> and <U>(b)</U>, or any part thereof, is held to be unenforceable by reason of it
extending for too great a period of time or over too great a geographic area or by reason of it being too extensive in any other
respect, the parties agree (x) such covenant shall be interpreted to extend only over the maximum period of time for which it may be
enforceable and/or over the maximum geographic areas as to which it may be enforceable and/or over the maximum extent in all other
respects as to which it may be enforceable, all as determined by the court making such determination and (y) in its reduced form,
such covenant shall then be enforceable, but such reduced form of covenant shall only apply with respect to the operation of such
covenant in the particular jurisdiction in or for which such adjudication is made. Each of the covenants and agreements contained in
this <U>Section 8</U> (collectively, the &#8220;<B>Protective Covenants</B>&#8221;) is separate, distinct and severable. All rights,
remedies and benefits expressly provided for in this Agreement are cumulative and are not exclusive of any rights, remedies or
benefits provided for by law or in this Agreement, and the exercise of any remedy by a party hereto shall not be deemed an election
to the exclusion of any other remedy (any such claim by the other party being hereby waived). The existence of any claim, demand,
action or cause of action of the Executive against the Company, whether predicated on this Agreement or otherwise, shall not
constitute a defense to the enforcement by the Company of each Protective Covenant. The unenforceability of any Protective Covenant
shall not affect the validity or enforceability of any other Protective Covenant or any other provision or provisions of this
Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notification of Restrictive Covenants</U>. Prior to accepting employment with any person, firm or entity during the Post Emplyoment
Restriction Period, the Executive shall notify the prospective employer in writing of his obligations pursuant to this <U>Section 8</U>
(it being agreed by the Company that such notification required under this <U>Section 8(e)</U> shall not be deemed a breach of the confidentiality
provisions of this Agreement). Executive may provide a copy of the provisions of this <U>Section 8</U> to any such prospective employer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: 76.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tolling</U>.
The temporal duration of the covenants set forth in <U>Section 8</U> of this Agreement shall not expire, and shall be tolled, during
any period in which the Executive is in violation of any such covenants, and all restrictions shall automatically be extended by the
period of the Executive&#8217;s violation of any such restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">9.</TD><TD STYLE="text-align: justify; width: 89%"><U>Intellectual Property</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The Executive agrees
that all materials created or modified by him during the Term, including, without limitation, all works of authorship, inventions, processes,
ideas, methods, concepts and other tangible and intangible materials (collectively, &#8220;<B>Work Product</B>&#8221;), shall be &#8220;work
for hire&#8221; and that the Company shall be the exclusive owner of the Work Product and all intellectual property rights associated
with the Work Product, including all trademarks, patents or copyrights contained therein. To the extent any Work Product does not qualify
as &#8220;work for hire&#8221;, the Executive hereby assigns ownership of all such Work Product to the Company and agrees to take all
reasonable measures, at the Company&#8217;s expense, to perfect such rights in the Company. The Executive hereby appoints the Company
as his attorney-in-fact with the limited power to execute assignments of such Work Product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">10.</TD><TD STYLE="text-align: justify; width: 89%"><U>Enforceability</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The failure of
any party at any time to require performance by another party of any provision hereunder shall in no way affect the right of that
party thereafter to enforce the same, nor shall it affect any other party&#8217;s right to enforce the same, or to enforce any of
the other provisions in this Agreement; nor shall the waiver by any party of the breach of any provision hereof be taken or held to
be a waiver of any subsequent breach of such provision or as a waiver of the provision itself.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">11.</TD><TD STYLE="text-align: justify; width: 89%"><U>Assignment</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The Company and
the Executive agree that the Company shall have the right to assign this Agreement, and, accordingly, this Agreement shall inure to the
benefit of, and may be enforced by, any and all successors and assigns of the Company and/or its business, including, without limitation,
by asset assignment, stock sale, merger, consolidation or other corporate reorganization. The Company and Executive agree that Executive&#8217;s
rights and obligations under this Agreement are personal to the Executive, and the Executive shall not have the right to assign or otherwise
transfer his rights or obligations under this Agreement. The rights and obligations of the Company hereunder shall be binding upon and
run in favor of the successors and assigns of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">12.</TD><TD STYLE="text-align: justify; width: 89%"><U>Modification</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">This Agreement may
not be orally canceled, changed, modified or amended, and no cancellation, change, modification or amendment shall be effective or binding,
unless in writing and signed by the parties to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">13.</TD><TD STYLE="text-align: justify; width: 89%"><U>Severability; Survival</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">In the event any
provision or portion of this Agreement is determined to be invalid or unenforceable for any reason, in whole or in part, the remaining
provisions of this Agreement shall nevertheless be binding upon the parties with the same effect as though the invalid or unenforceable
part had been severed and deleted or reformed to be enforceable. The respective rights and obligations of the parties hereunder (including,
but not limited to those contained in <U>Section 8</U>) shall survive the termination of the Executive&#8217;s employment, the Term and
the termination of this Agreement to the extent necessary to the intended preservation of such rights and obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">14.</TD><TD STYLE="text-align: justify; width: 89%"><U>Notice</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">Any notice, request,
instruction or other document to be given hereunder by any party hereto to another party shall be in writing and shall be deemed effective
(a) upon personal delivery, if delivered by hand, or (b) three days after the date of deposit in the mails, sent certified or registered
mail, postage prepaid and return receipt requested, or (c) on the next business day, if sent by prepaid overnight courier service or facsimile
transmission or electronic mail (if electronically confirmed), and in each case, addressed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 22.95pt 0pt 28.95pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><U>If to the Executive:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 99pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Ryan Greene</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">[ADDRESS]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 312.2pt 0pt 99.35pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 312.2pt 0pt 99.35pt; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 312.2pt 0pt 99.35pt; text-align: justify">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><U>If to the Company</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Stagwell Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">One World Trade Center, Floor
65</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">New York, NY 10007</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Attn: Legal</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">Any party may change
the address to which notices are to be sent by giving notice of such change of address to the other party in the manner herein provided
for giving notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">15.</TD><TD STYLE="text-align: justify; width: 89%"><U>No Conflict</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">The Executive represents
and warrants that he is not subject to any agreement, instrument, order, judgment or decree of any kind, or any other restrictive agreement
of any character, which would prevent him from entering into this Agreement or which would be breached by the Executive upon his performance
of his duties pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">16.</TD><TD STYLE="text-align: justify; width: 89%"><U>Entire Agreement; Applicable Law</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">This Agreement and
the documents referenced herein represent the entire agreement between the Company and the Executive with respect to the employment of
the Executive by the Company. This Agreement shall be governed by, enforced under, and construed in accordance with the laws of the State
of New York applicable therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 6%"></TD><TD STYLE="width: 5%">17.</TD><TD STYLE="text-align: justify; width: 89%"><U>Counterparts</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">This Agreement may
be executed in one or more counterparts, and each such counterpart shall be deemed an original instrument, but all such counterparts taken
together shall constitute but one agreement. Facsimile and pdf signatures shall constitute an original.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 6%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>18.</B></FONT></TD>
    <TD STYLE="font-size: 10pt; width: 89%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>409A Compliance</U></B></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 27pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in">This
Agreement is intended to comply, to the extent applicable, with Section 409A of the Internal Revenue Code of 1986, as amended (the
 &#8220;Code&#8221;) and will be so interpreted. For purposes of this Agreement, a termination of Executive&#8217;s services on the
Termination Date shall be determined in a manner consistent with the rules relating to &#8220;separation from service&#8221; within
the meaning of Section 409A of the Code and the regulations thereunder, if necessary in order to prevent the imposition of any
accelerated or additional tax under Section 409A of the Code. Notwithstanding anything herein to the contrary, (i) if on the
Termination Date Executive is a &#8220;specified employee&#8221; as defined in Section 409A of the Code, and the deferral of the
commencement of any payments or benefits otherwise payable hereunder as a result of such termination the Agreement is necessary in
order to prevent the imposition of any accelerated or additional tax under Section 409A of the Code, then the Company will (A) defer
the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits
ultimately paid or provided to Executive) until the date that is six months following the Termination Date (or the earliest date as
is permitted under Section 409A of the Code), and (B) add to such payment or benefit an interest payment for the six-month period
calculated using the short-term Applicable Federal Rate (monthly compounded) as in effect on the Termination Date under Section
1274(d) of the Internal Revenue Code and (ii) if any other payments of money or other benefits due to the Executive hereunder could
cause the application of an accelerated or additional tax under Section 409A of the Code, the parties agree to restructure the
payments or benefits to comply with Section 409A of the Code in a manner which does not diminish the value of such payments and
benefits to the Executive. To the extent any reimbursements or in-kind benefits due to the Executive under this Agreement constitute
 &#8220;deferred compensation&#8221; under Section 409A of the Code, any such reimbursements or in-kind benefits shall be paid in a
manner consistent with Treas. Reg. Section 1.409A-3(i)(1)(iv). If under this Agreement, an amount is paid in two or more
installments, each installment shall be treated as a &#8220;separate payment&#8221; within the meaning of 409A of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">* * *</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 27pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 27pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.85pt 0pt 27pt; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 1in"><B>IN WITNESS
WHEREOF,</B> the parties have executed this Agreement as of day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STAGWELL INC.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="text-align: right; width: 2%; border-bottom: black 1pt solid">/s/</TD>
    <TD STYLE="width: 46%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> Mark Penn</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mark Penn</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CEO</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%"><B>&nbsp;</B></TD>
  <TD STYLE="width: 50%"><B>RYAN GREENE</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/
Ryan Greene</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

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<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
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<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
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    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2020-01-31" schemaLocation="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd" />
    <import namespace="http://fasb.org/us-gaap/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd" />
    <import namespace="http://fasb.org/us-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2020-01-31" schemaLocation="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd" />
    <import namespace="http://fasb.org/srt/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd" />
    <import namespace="http://fasb.org/srt-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>5
<FILENAME>mdca-20210802_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.9a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
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      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyEventDate" xlink:label="dei_DocumentShellCompanyEventDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>mdca-20210802_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
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    <dei:SecurityExchangeName contextRef="From2021-08-02to2021-08-02">NASDAQ</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="From2021-08-02to2021-08-02">false</dei:EntityEmergingGrowthCompany>
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<SEQUENCE>8
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.21.2</span><table class="report" border="0" cellspacing="2" id="idm140669951741240">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Aug. 02, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K/A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentDescription', window );">Amendment Description</a></td>
<td class="text">This Amendment No. 1 to Current Report on Form 8-K/A (the "8-K Amendment") is being filed to amend the Current Report on Form 8-K of Stagwell Inc. (the "Company") filed on August 2, 2021 (the "Original 8-K"). The Original 8-K included disclosure in Item 5.02 with respect to the appointments of Jay Leveton as President of the Company and Ryan Greene as Chief Operating Officer of the Company. This 8-K Amendment supplements and amends Item 5.02 to include information that became available after the filing of the Original 8-K with respect to the terms of the compensation agreements between the Company and Mr. Leveton and Mr. Greene.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug.  02,  2021<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-13718<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">STAGWELL INC.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000876883<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">86-1390679<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">One World Trade Center<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Floor 65<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New York<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10007<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">646<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">429-1800<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Class A Common Stock, $0.001 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">STGW<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NASDAQ<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of changes contained within amended document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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end
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

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..report table.authRefData{
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	font-size: 1em;
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..report table.authRefData a {
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..report table.authRefData p {
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..report table.authRefData .hide {
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	padding: 1px 3px 0px 0px;
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}

..report table.authRefData .hide a:hover {
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}

..report table.authRefData .body {
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	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
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	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
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}

/* Top labels */
..report th {
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	font-weight: bold;
	text-align: center;
}

..report th.void	{
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..report .pl {
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..report td.pl a.a {
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..report td.pl div.a {
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..report td.pl a:hover {
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/* Header rows... */
..report tr.rh {
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/* Calendars... */
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/* Even rows... */
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/* Odd rows... */
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..report .rou td {
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..report .rou table td, .report .reu table td {
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/* styles for footnote marker */
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..report .nump {
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..report .text .big {
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..report .text .small {
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..report sup {
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}

..report .outerFootnotes {
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
