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The paper investigates the stability properties of mobile agent formations which are based on leader following. We derive nonlinear gain estimates that capture how leader behavior affects the interconnection errors observed in the formation. Leader-to-formation stability (LFS) gains quantify error amplification, relate interconnection topology to stability and performance, and offer safety bounds for different formation topologies. Analysis based on the LFS gains provides insight to error propagation and suggests ways to improve the safety, robustness, and performance characteristics of a formation.