Exhibit 10(iii)(A)(v)
SUPPLEMENTAL AGREEMENT
SUPPLEMENTAL AGREEMENT made as of March 31, 2003 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 January 1, 1994 as amended by Supplemental Agreements made
as of July 1, 1995, September 1, 1997, April 1, 2000 and November 7, 2002
(hereinafter referred 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 3.03 of the Employment Agreement is hereby amended to read
in its entirety as follows: "Executive has been granted (i) an award for the
2003-2005 performance period under Interpublic's Long Term Performance Incentive
Plan ("LTPIP") equal to Twenty Thousand (20,000) performance units tied to the
cumulative compound growth of Interpublic and (ii) during 2003, options under
Interpublic's Stock Incentive Plan to purchase One Hundred Seventy-six Thousand
Sven Hundred Nine (176,709) shares of Interpublic common stock which may not be
exercised in any part prior to the end of the performance period and thereafter
shall
be exercisable in whole or in part. Subject to the terms of the Corporation's
Performance Incentive Plan, the Committee approved certain non-forfeiture
provisions in connection with Executive's grant, in the event Executive's
employment is terminated by the Corporation without cause.
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: /s/ Xxxxx Xxxxxx
Xxxxx Xxxxxx
By: /s/ Xxxx X. Xxxxxx
Xxxx X. Xxxxxx
Signed as of: 4/15/03
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