Sample Business Contracts


Employment Agreement - Interpublic Group of Companies Inc. and James R. Heekin

Employment Forms

  • Employers can customize an employment agreement that states the salary, benefits, working hours and other important provisions for their new or existing employee.
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  • Employers who compensate their sales employees based on commissions can prepare an agreement to reduce misunderstandings by specifying the base salary and how commissions are calculated.
  • Companies may offer their business executives a contract that is different from the one provided to their regular employees. Executive employment agreements may be more complex because the compensation structure may include a combination of salary and commissions, provide for bonuses based on sales, stock or other financial targets, and include non-compete, confidentiality and severance provisions.
  • Independent sales representatives offer companies the potential to increase the sale of products or services without the burden of increasing headcount. Both parties should understand how commissions are calculated, when commissions will be paid, as well as how the representative will treat confidential information from the company and whether the representative may also sell a competing line of products or services.
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                             SUPPLEMENTAL AGREEMENT
                             ----------------------

          SUPPLEMENTAL   AGREEMENT  made  as  of  March  28,  2000  between  THE
INTERPUBLIC GROUP OF COMPANIES, INC., a Delaware corporation ("Interpublic") and
JAMES R. HEEKIN ("Executive").


                              W I T N E S S E T H:
                              -------------------

          WHEREAS,  Interpublic  and  Executive  are  parties  to an  Employment
Agreement  made  as  of  January  1,  1998  (hereinafter   referred  to  as  the
"Agreement"); and

          WHEREAS, Interpublic and Executive desire to amend the Agreement; NOW,
THEREFORE,  in  consideration of the mutual promises herein and in the Agreement
set forth, the parties hereto, intending to be legally bound, agree as follows:

          1.  Paragraph  3.01 of the Agreement is hereby  deleted and amended to
read in its entirety as follows:  "The Corporation will compensate Executive for
the duties performed by him hereunder,  by payment of a total base salary at the
rate of Eight Hundred Seventy Thousand Dollars ($870,000) per annum, One Hundred
Thousand Dollars ($100,000) of which shall be accrued in accordance with certain
Executive  Special  Benefit  Agreements  entered into between the  Executive and
Interpublic.  The non-accrued  portion of Executive's total base salary shall be
payable in equal  installments,  which the Corporation shall pay at semi-monthly
intervals, subject to customary withholding for federal, state and local taxes."

          2. A new paragraph 5.03 shall be added to read as follows:  "Executive
has been granted:  (i) effective  December 16, 1999,  seventy thousand  (70,000)
shares of  Interpublic  Common  Stock which are  subject to a five-year  vesting
restriction,  and (ii) effective  March 21, 2000 an additional  thirty  thousand
(30,000) shares of Interpublic  Common Stock,  which are subject to a seven-year
vesting restriction."

          3. A new paragraph 5.04 shall be added to read as follows:  "Executive
has been  granted:  (i)  effective  December 12,  1999,  options to purchase one
hundred  thousand  (100,000)  shares  of  Interpublic  Common  Stock,  and  (ii)
effective March 21, 2000, options to purchase eighty thousand (80,000) shares of
Interpublic  Common  Stock,  all of  which  are  subject  to all the  terms  and
conditions of the Interpublic  Stock Incentive Plan.  Forty percent (40%) of the
options will be  exercisable  after the third  anniversary of the date of grant,
thirty percent (30%) will be exercisable after the fourth anniversary and thirty
percent (30%) will be  exercisable  after the fifth  anniversary  of the date of
grant through the tenth anniversary of the date of grant."

          Except as hereinabove  amended,  the Agreement  shall continue in full
force and effect.
<PAGE>

          This Supplemental Agreement shall be governed by the laws of the State
of New York, applicable to contracts made and fully to be performed therein.

                              THE INTERPUBLIC GROUP OF
                              COMPANIES, INC.



                              By /s/ C. KENT KROEBER
                                ----------------------------------------
                                  C. KENT KROEBER



                                 /s/ JAMES R. HEEKIN
                                ----------------------------------------
                                   JAMES R. HEEKIN

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