Attached files
file | filename |
---|---|
10-Q - Stagwell Inc | v199942_10q.htm |
EX-12 - Stagwell Inc | v199942_ex12.htm |
EX-4.1 - Stagwell Inc | v199942_ex4-1.htm |
EX-99.1 - Stagwell Inc | v199942_ex99-1.htm |
EX-32.1 - Stagwell Inc | v199942_ex32-1.htm |
EX-31.1 - Stagwell Inc | v199942_ex31-1.htm |
EX-31.2 - Stagwell Inc | v199942_ex31-2.htm |
EX-32.2 - Stagwell Inc | v199942_ex32-2.htm |
Exhibit
10.1
AMENDMENT TO EMPLOYMENT
AGREEMENT
AMENDMENT NO. 1 dated August
5, 2010 (“Amendment”),
to the EMPLOYMENT
AGREEMENT made as of August 20, 2007 (the “Employment Agreement”), by and
between MDC PARTNERS
INC., a Canadian corporation (the “Company”), and STEPHEN PUSTIL (the “Executive”).
WHEREAS, the parties hereto
desire to amend the Employment Agreement to provide for the amended terms and
conditions set forth herein;
NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth in this
Amendment, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties do hereby agree as
follows:
1. Capitalized
terms used in this Amendment and not otherwise defined shall have the meaning
given to such terms in the Employment Agreement.
2. Section
4(a) of the Employment Agreement is hereby amended such that Executive’s “Base
Salary” shall be increased to Cdn $350,000 (effective July 15,
2010).
3. Section
7(b)(i) of the Employment Agreement is hereby amended by revising the definition
of Severance Amount as follows: “a severance payment (the “ Severance
Amount”) in an amount equal to the product of 2.0 multiplied
by the Executive’s “Total Remuneration”.”
4. As
used herein and in the Employment Agreement, the term “Agreement” shall mean the
Employment Agreement, as from time to time amended (including, without
limitation, this Amendment). Except as set forth above, the
Employment Agreement, as amended herein, shall remain in full force and effect
without further modification. This Amendment 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.
IN WITNESS WHEREOF, the
parties hereto have executed this Amendment No. 1 to the Employment Agreement,
on the day and year first above written.
MDC
PARTNERS INC.
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By:
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/s/ Mitchell Gendel | |
Name: Mitchell
Gendel
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Title: General
Counsel
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/s/
Stephen Pustil
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Stephen
Pustil
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