Synopsis:
Pete is moving into his new apartment and Peggy's ad copy is being presented to the client. Pete and Peggy have an encounter in his office before the others arrive and after Pete admits that he hasn't read her copy. Mr. Cooper gives Don a bonus. Don is tormented by his past. Fred Rumsen presents Peggy's copy. Salvatore has drinks with a client. The client likes Peggy's pitch and the group goes out to celebrate. At the celebration Peggy asks Pete to dance, but he rejects her. Don goes to see Midge. He has a flashback to his childhood, remembering a hobo who came to stay with them.