Amendment to Employment Agreement between The Interpublic Group of Companies, Inc. and Michael Roth (Effective January 1, 2007)
This amendment updates the employment agreement between The Interpublic Group of Companies, Inc. and Michael Roth. Effective January 1, 2007, it removes the executive's car and club allowances and increases his base salary by an equivalent amount. All other terms of the original agreement remain unchanged. The amendment is signed by both parties and is legally binding.
EXHIBIT 10(iii)(A)(1)
AMENDMENT TO EMPLOYMENT AGREEMENT
AMENDMENT effective as of January 1, 2007, between THE INTERPUBLIC GROUP OF COMPANIES, INC. (Interpublic) and MICHAEL ROTH (Executive).
WITNESSETH:
WHEREAS, Interpublic and Executive are parties to an Employment Agreement made as of July 13, 2004, as amended by Supplemental Agreements made as of January 19, 2005, February 14, 2005, and September 12, 2007 (collectively, the Agreement);
WHEREAS, as of January 1, 2007, Interpublic and Executive agreed that Executives car and club allowances would be discontinued and that Executives base salary would be increased by a corresponding amount as a result;
NOW, THEREFORE, in consideration of the mutual promises set forth herein and in the Agreement, the parties hereto, intending to be legally bound, hereby amend the Agreement effective January 1, 2007, as follows:
1. Incorporation by Reference. All provisions of the Agreement are hereby incorporated herein by reference and shall remain in full force and effect except to the extent that such provisions are expressly modified by the provisions of this Amendment.
2. Allowances. Sections 6.04 and 6.05 of the Agreement are hereby deleted in their entirety.
IN WITNESS WHEREOF, Interpublic, by its duly authorized officer, and Executive have caused this Amendment to the Agreement to be executed.
The Interpublic Group of Companies, Inc. | Executive | |||||||
BY: | /s/ Timothy Sompolski | /s/ Michael Roth | ||||||
Timothy Sompolski Executive Vice President Chief Human Resources Officer | Michael Roth | |||||||
DATE: | 5/1/08 | DATE: | 3/19/08 |