Extension Agreement to Waiver Termination Date under Credit Agreements between The Interpublic Group of Companies, Inc. and Lenders

Summary

This agreement, dated September 30, 2002, is between The Interpublic Group of Companies, Inc. and a group of lenders, with Citibank, N.A. as agent. It extends the termination date of previously granted waivers under two existing credit agreements. The new termination date is the earlier of November 14, 2002, or the company's filing of restated financial statements with the SEC. The agreement requires lender signatures to confirm acceptance and supersedes any prior related agreements.

EX-10.1 3 inter8k_ex10-1.txt THE INTERPUBLIC GROUP OF COMPANIES, INC. WORLDWIDE ADVERTISING AND MARKETING COMMUNICATIONS STEVEN BERNS Vice President & Treasurer Tel. 212 ###-###-#### Fax: 212 ###-###-#### ***@*** September 30, 2002 Citibank, N.A., as Agent for the Lenders party to the Credit Agreement referred to below Two Penns Way New Castle, Delaware 19720 Attention: Bank Loan Syndications Department Ladies and Gentlemen: We refer to the two letter agreements (collectively, the "Letter Agreements" and individually a "Letter Agreement"), each dated as of August 6, 2002, among the Company and the Required Lenders named therein relating to each of the two Credit Agreements, as amended, among The Interpublic Group of Companies, Inc., the initial lenders named therein, and Citibank, N.A. as Administrative Agent, one for a term of 364 days the other for a term of 5 years, respectively (collectively, the "Credit Agreements" and individually a "Credit Agreement"). Capitalized terms used but not defined herein are used with the meanings given to those terms in the Credit Agreement. The Company requests that the Lenders agree to extend the termination date of the waiver contained in each Letter Agreement to the earlier of (x) November 14, 2002 and (y) the filing by the Company with the Securities and Exchange Commission of restated financial statements in respect of the Event (as defined in the Letter Agreements). This letter agreement, including the foregoing extension, constitutes the entire agreement of the parties relating to the extension of the termination date of the waivers contained in the Letter Agreements and supersedes any previous understanding or agreement by the parties with respect thereto. Please indicate your agreement, as well as the agreement of each of the Lenders named below, with the foregoing extension by having the enclosed duplicate copy of this letter agreement executed in the space provided below by a duly authorized representative of each of the Lenders named below and return the same to Susan Hobart at Sherman & Sterling via facsimile at ###-###-#### prior to 11:00AM on October 15, 2002 and mail the original to her office at 599 Lexington Avenue, New York, NY 10022. THE INTERPUBLIC GROUP OF COMPANIES, INC. By: /s/ Steven Berns ------------------------------- Name: STEVEN BERNS Title: VICE PRESIDENT & TREASURER Confirmed and Agreed: CITIBANK, N.A. By: /s/ Carolyn A. Kee ------------------------------ Name: CAROLYN A. KEE Title: VICE PRESIDENT BANCA POPOLARE DI BERGAMO-CV By: /s/ Riccardo Sora ------------------------------ Name: RICCARDO SORA Title: DEPUTY GENERAL MANAGER BANK OF AMERICA, N.A. By: /s/ William K. Burton ------------------------------ Name: WILLIAM K. BURTON Title: MANAGING DIRECTOR BANK OF TOKYO-MITSUBISHI TRUST COMPANY By: /s/ Spencer Hughes ------------------------------ Name: SPENCER HUGHES Title: VICE PRESIDENT BANK ONE, NA (MAIN OFFICE CHICAGO) By: /s/ Jeffrey Lubatkin ------------------------------ Name: JEFFREY LUBATKIN Title: DIRECTOR BARCLAYS BANK PLC By: /s/ Nicholas Bell ------------------------------ Name: NICHOLAS BELL Title: DIRECTOR BNP PARIBAS By: /s/ Simone G. Vinocour McKeever ------------------------------- Name: SIMONE G. VINOCOUR McKEEVER Title: VICE PRESIDENT By: /s/ Arnaud Collin du Bocage ------------------------------ Name: ARNAUD COLLIN du BOCAGE Title: MANAGING DIRECTOR FLEET NATIONAL BANK By: /s/ Thomas J. Levy ------------------------------ Name: THOMAS J. LEVY Title: SENIOR VICE PRESIDENT HSBC BANK USA By: /s/ Johan Sorensson ------------------------------ Name: JOHAN SORENSSON Title: HSBC BANK USA ING CAPITAL LLC By: /s/ William James ------------------------------ Name: WILLIAM JAMES Title: DIRECTOR JPMORGAN CHASE BANK By: /s/ Thomas J. Cox ------------------------------ Name: THOMAS J. COX Title: VICE PRESIDENT KEYBANK NATIONAL ASSOCIATION By: /s/ Lawrence A. Mack ------------------------------ Name: LAWRENCE A. MACK Title: SENIOR VICE PRESIDENT LLOYDS TSB BANK PLC By: /s/ Richard M. Heath ------------------------------ Name: RICHARD M. HEATH Title: VICE PRESIDENT By: /s/ Lisa Maguire ------------------------------ Name: LISA MAGUIRE Title: ASSISTANT VICE PRESIDENT MIZUHO CORPORATE BANK, LTD. By: /s/ Raymond Ventura ------------------------------ Name: RAYMOND VENTURA Title: SENIOR VICE PRESIDENT ROYAL BANK OF CANADA By: /s/ Suzanne Kaicher ------------------------------ Name: SUZANNE KAICHER Title: MANAGER SUNTRUST BANK By: /s/ Jennifer DeAtley ------------------------------ Name: JENNIFER DeATLEY Title: ASSISTANT VICE PRESIDENT THE NORTHERN TRUST COMPANY By: /s/ Russ Rockenbach ------------------------------ Name: RUSS ROCKENBACH Title: VICE PRESIDENT WACHOVIA By: /s/ Anne L. Sayles ------------------------------ Name: ANNE L. SAYLES Title: DIRECTOR WESTPAC BANKING CORPORATION By: /s/ Lisa Porter ------------------------------ Name: LISA PORTER Title: VICE PRESIDENT