SUPPLEMENTAL AGREEMENT
Supplemental Agreement made as of July 1, 1995, by and
between The Interpublic Group of Companies, Inc., a corporation
of the State of Delaware (hereinafter referred to as the
"Corporation"), and XXXX X. XXXXXX (hereinafter referred to as
"Executive").
W I T N E S S E T H:
WHEREAS, the Corporation and Executive are parties to an
Employment Agreement made as of January 1, 1994 (hereinafter
referred to as the "Employment Agreement"); and
WHEREAS, the Corporation and Executive desire to amend the
Employment Agreement;
NOW, THEREFORE, in consideration of the mutual promises
herein and in the Employment Agreement set forth, the parties
hereto intending to be legally bound, agree as follows:
1. Section 3.01 of the Employment Agreement is hereby
amended, effective as of July 1, 1995, so as to delete "$580,000"
and to substitute "$750,000" therefore. The parties agree,
however, that $20,000 of the aforementioned salary increase will
be regarded as temporary and will be deleted as of June 30, 1998.
On July 1, 1998, $20,000 will be added to Executive's salary
pursuant to, and subject to, the terms of section 1.02 of an
Executive Special Benefit Agreement entered into between
Executive and the Corporation dated July 1, 1992.
2. Except as herein above amended, the Employment Agreement
shall continue in full force and effect.
3. This Supplemental Agreement shall be governed by the laws
of the State of New York.
The Interpublic Group of Companies, Inc.
By C. Xxxx Xxxxxxx
Xxxx X. Xxxxxx, Xx.
