SUPPLEMENTAL AGREEMENT
SUPPLEMENTAL AGREEMENT made as of December 1, 1985, 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, XX. (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 August T, 1984 and a
Supplemental Agreement made as of June 1, 1985 thereinafter
referred to collectively 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 December 1, 1985, so as the
delete "$127,000". and to substitute therefor
"$150,000".
2. Section 3.02 of the Employment Agreement is hereby
amended, effective as of December 1, 1985, so as to
delete the first three sentences thereof and substitute
therefor the following: "Subject to the provisions of
Section 3.03 hereof, the Corporation will further
compensate Executive for the duties specified in
Section 2.01 hereof by payment at the times and upon
the conditions specified in Section 3.03, of sums
("Deferred Compensation") of $5,000 for the period
August 1, 1984 through July 31, 1985 and $3,333.33 for
the period August 1, 1985 through November 30, 1985."
3. Section 3.03(a) of the Employment Agreements hereby
amended, effective as of December 1, 1985, so as to
delete such Section in its entirety and substitute the
following therefor: n ( a) If the employment of Executive
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by the Corporation terminates by reason of his
voluntary resignation prior to August 1, 1989, he shall
be entitled to receive no Deferred Compensation. If the
employment of Executive by the Corporation terminates
by reason of his voluntary resignation between August
1, 1989 and November 30, 1989, he shall be entitled to
receive the Deferred Compensation accrued for the
period August 1, 1984 through July 31, 1985, but not
the Deferred Compensation accrued for the period August
1, 1985 through November 30, 1985."
4. Section 3.03(b) of the Employment Agreement is
hereby amended, effective as of December 1, 1985, so as
to delete the word "Year" therefrom and substitute
"period" therefor.
5. Except as hereinabove amended, the Employment
Agreement shall continue in full force and effect.
6. 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.
