EMPLOYMENT AGREEMENT
                              --------------------


          AGREEMENT  made as of January 1, 2001 by and between  THE  INTERPUBLIC
GROUP  OF  COMPANIES,   INC.,  a  Delaware  corporation  ("Interpublic"  or  the
"Corporation"), and FRANK B. LOWE ("Executive").

          In  consideration  of the mutual promises set forth herein the parties
hereto agree as follows:

                                   ARTICLE I
                                   ---------

                               Term of Employment
                               ------------------

          1.01 Subject to the  provisions of Article VII and Article  VIII,  and
upon the terms and subject to the conditions set forth herein,  the  Corporation
will employ  Executive for the period beginning  January 1, 2001  ("Commencement
Date") and ending on December 31, 2005.  (The period  during which  Executive is
employed hereunder is referred to herein as the "term of employment.") Executive
will serve the Corporation during the term of employment.

                                   ARTICLE II
                                   ----------

                                     Duties
                                     ------

          2.01 During the term of employment, Executive will:

               (i) Serve as  Chairman  and Chief  Executive  Officer of The Lowe
          Group,  Lowe Lintas  Worldwide,  and Octagon  Worldwide,  wholly-owned
          subsidiaries of Interpublic ("Lowe").

               (ii)  Use his  best  efforts  to  promote  the  interests  of the
          Corporation  and Lowe and devote his full business time and efforts to
          their business and affairs;

               (iii)  Perform  such duties as the  Corporation  may from time to
          time  assign  to  him;  (iv)  Serve  in  such  other  offices  of  the
          Corporation and/or Lowe as he may be elected or appointed to;

               (v) No significant  change in Executive's status or his nature or
          scope of his duties shall be effected without his consent; and

               (vi) Be  proposed  as a  member  of the  Corporation's  Board  of
          Directors.

                                  ARTICLE III
                                  -----------

                              Regular Compensation
                              --------------------

          3.01  The  Corporation  will  compensate   Executive  for  the  duties
performed  by him  hereunder,  by  payment  of a base  salary at the rate of One
Million  United  States  Dollars   ($1,000,000)  per  annum,  payable  in  equal
installments, which the Corporation shall pay at semi-monthly intervals, subject
to customary  withholding for federal,  state and local taxes. In addition,  the
Corporation  will make a payment of Two Hundred  Thousand  United States Dollars
($200,000)  per year pursuant to an Executive  Special  Benefit  Agreement to be
entered into between the Executive and Interpublic.  In addition,  the Executive
Severance  Agreement,  dated  January  1, 1998  between  the  Executive  and the
Corporation  ("ESA")  will  remain in full force and  effect  during the term of
employment.

          3.02 The Corporation may at any time increase the compensation paid to
Executive under this Article III if the Corporation in its sole discretion shall
deem it  advisable  so to do in order to  compensate  him  fairly  for  services
rendered to the Corporation.

                                   ARTICLE IV
                                   ----------

                                    Bonuses
                                    -------

          4.01  Executive  will be  eligible  during the term of  employment  to
participate  in  the  Management  Incentive   Compensation  Plan  ("MICP"),   in
accordance  with the terms and conditions of the Plan  established  from time to
time, and appropriate for an executive holding such a position.

          4.02 As soon as administratively feasible after full execution of this
Agreement,  Interpublic  will use its  best  efforts  to have  the  Compensation
Committee of its Board of Directors  ("Committee") grant Executive an additional
award  for the  2000-2002  performance  period  under  Interpublic's  Long  Term
Performance  Incentive Plan ("LTPIP") equal to Two Thousand (2,000)  performance
units tied to the cumulative  compound  profit growth of Lowe Lintas and options
under  Interpublic's  Stock Incentive Plan to purchase Twenty Thousand  (20,000)
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.

          4.03 As soon as administratively feasible after full execution of this
Agreement,  Interpublic  will use its best efforts to have the  Committee  grant
Executive an award for the 2001-2004 performance period under the LTPIP equal to
Eleven  Thousand  (11,000)  performance  units tied to the  cumulative  compound
profit  growth of Lowe  Lintas  and Three  Thousand  (3,000)  units  tied to his
cumulative  compound  project growth of Octagon and options under  Interpublic's
Stock  Incentive  Plan  to  purchase  Sixty-Five  Thousand  (65,000)  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.

          4.04   Executive   has   previously   been   granted  an  award  under
Interpublic's  1999-2002 LTPIP equal to Three Thousand (3,000) units tied to the
cumulative compound profit growth of Octagon 2000.

                                   ARTICLE V
                                   ---------

                               Interpublic Stock
                               -----------------

          5.01 As soon as administratively feasible after full execution of this
Agreement,  Interpublic  will use its  best  efforts  to have  the  Compensation
Committee of its Board of Directors ("Committee") grant to Executive One Hundred
Thirty-Five  Thousand (135,000) shares of Interpublic Common Stock which will be
subject to a four year vesting restriction.
<PAGE>
          5.02 As soon as administratively feasible after full execution of this
Agreement,  Interpublic will use its best efforts to have the Committee grant to
Executive  options to purchase One Hundred Fifty  Thousand  (150,000)  shares of
Interpublic  Common Stock, which will be 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.

                                   ARTICLE VI
                                   ----------

                           Other Employment Benefits
                           -------------------------

          6.01 Executive shall be eligible to participate in such other employee
benefits as are available from time to time to other key  management  executives
of  Interpublic  in  accordance  with  the  then-current  terms  and  conditions
established by Interpublic for eligibility and employee  contributions  required
for participation in such benefits opportunities.

          6.02  Executive  shall be entitled to an  automobile  allowance of Ten
Thousand  Dollars  ($10,000) per annum.

          6.03 Executive  shall remain a member of the  Interpublic  Development
Council.

                                  ARTICLE VII
                                  -----------

                                  Termination
                                  -----------

          7.01  The  Corporation  may  terminate  the  employment  of  Executive
hereunder:

               (i) By giving  Executive notice in writing at any time specifying
          a termination  date not less than twelve (12) months after the date on
          which such  notice is given,  in which  event  Executive's  employment
          hereunder shall terminate on the date specified in such notice, or

               (ii) By giving Executive notice in writing at any time specifying
          a  termination  date less than twelve  (12)  months  after the date on
          which  such  notice is given.  In this  event  Executive's  employment
          hereunder shall terminate on the date specified in such notice and the
          Corporation  shall  thereafter  pay him a sum  equal to the  amount by
          which  twelve (12) months  salary at his then current rate exceeds the
          salary  paid to him for the period  from the date on which such notice
          is  given to the  termination  date  specified  in such  notice.  Such
          payment  shall be made  during the period  immediately  following  the
          termination date specified in such notice, in successive equal monthly
          installments each of which shall be equal to one (1) month's salary at
          the rate in effect at the time of such  termination,  with any residue
          in  respect  of a period  less than one (1) month to be paid  together
          with the last installment.

          During the  termination  period  provided in subsection (i), or in the
case of a termination  under subsection (ii) providing for a termination  period
of less than twelve (12)  months,  for a period of twelve (12) months  after the
termination notice,  Executive will be entitled to receive all employee benefits
accorded  to him prior to  termination  which are made  available  to  employees
generally;  provided,  that  such  benefits  shall  cease  upon  such  date that
Executive accepts employment with another employer offering similar benefits. In
addition,  in the event of a  termination  pursuant to  subsection  (i) or (ii),
Executive  will be  entitled  to a pro-rata  portion of his LTPIP  entitlements,
restricted  stock grants and stock option grants.  Such  pro-ration  shall be in
accordance with Interpublic's standard policies and practices in such cases.

          7.02 Notwithstanding the provisions of Section 7.01, during the period
of notice of termination,  Executive will use reasonable,  good faith efforts to
obtain other  employment  reasonably  comparable  to his  employment  under this
Agreement.  Upon obtaining  other  employment  (including  work as a consultant,
independent  contractor  or  establishing  his  own  business),  Executive  will
promptly notify the Corporation,  and (a) in the event that  Executive's  salary
and other non-contingent  compensation ("new compensation") payable to Executive
in connection  with his new employment  shall equal or exceed the salary portion
of the amount payable by the  Corporation  under Section 7.01,  the  Corporation
shall be relieved of any  obligation to make payments under Section 7.01, or (b)
in the event Executive's new compensation  shall be less than the salary portion
of payments to be made under Section 7.01,  the  Corporation  will pay Executive
the difference between such payments and the new compensation.

          7.03  Executive  may  at  any  time  give  notice  in  writing  to the
Corporation specifying a termination date not less than twelve (12) months after
the date on which such notice is given, in which event his employment  hereunder
shall  terminate  on the date  specified  in such notice,  and  Executive  shall
receive his salary until the termination date.

          7.04  Notwithstanding  the provisions of Section 7.01, the Corporation
may  terminate  the  employment  of Executive  hereunder,  at any time after the
Commencement Date, for Cause. For purposes of this Agreement,  "Cause" means the
following:

               (i) Any material  breach by  Executive  of any  provision of this
          Agreement (including without limitation Sections 8.01 and 8.02 hereof)
          upon notice of same by the  Corporation  which  breach,  if capable of
          being cured,  has not been cured  within  fifteen (15) days after such
          notice (it being  understood  and agreed that a breach of Section 8.01
          or 8.02  hereof,  among  others,  shall be deemed not capable of being
          cured);

               (ii) Executive's absence from duty for a period of time exceeding
          fifteen  (15)  consecutive  business  days or  twenty  (20) out of any
          thirty  (30)  consecutive  business  days  (other  than on  account of
          permitted  vacation  or  as  permitted  for  illness,   disability  or
          authorized  leave  in  accordance  with  Interpublic's   policies  and
          procedures)  without  the  consent  of the Board of  Directors  of the
          Corporation;

               (iii) The acceptance by Executive, prior to the effective date of
          Executive's   voluntary   resignation   from   employment   with   the
          Corporation,  of a position with another employer, without the consent
          of the Board of Directors;

               (iv)  Misappropriation  by  Executive of funds or property of the
          Corporation or any attempt by Executive to secure any personal  profit
          related to the business of the Corporation (other than as permitted by
          this Agreement) and not fairly  disclosed to and approved by the Board
          of Directors;

               (v) Fraud,  dishonesty,  disloyalty,  gross negligence or willful
          misconduct on the part of Executive in the  performance  of his duties
          as an employee of the Corporation;
<PAGE>
               (vi) A felony conviction of Executive; or

               (vii)  Executive's  engaging,  during the term of employment,  in
          activities   which  are   prohibited  by  state  and/or  federal  laws
          prohibiting  discrimination  based  on age,  sex,  race,  religion  or
          national origin, or engaging in conduct which is constituted as sexual
          harassment.

          Upon a termination for Cause, the Corporation  shall pay Executive his
salary through the date of termination of employment, and Executive shall not be
entitled to any Special Bonus or  Performance  Bonus with respect to the year of
termination, or to any other payments hereunder.

          7.05 If  Executive  dies before  December  31,  2005,  his  employment
hereunder shall terminate on the date of his death.

                                  ARTICLE VIII
                                  ------------

                                   Covenants
                                   ---------

          8.01 While Executive is employed hereunder by the Corporation he shall
not,  without the prior written  consent of the  Corporation,  which will not be
unreasonably  withheld,  engage,  directly or  indirectly,  in any other  trade,
business or employment,  or have any interest,  direct or indirect, in any other
business, firm or corporation; provided, however, that he may continue to own or
may hereafter acquire any securities of any class of any publicly-owned  company
as well as investments  in other entities that are held for investment  purposes
only provided that such entities are not in competition with the Corporation and
that  investment  in such entities does not create a conflict of interest on his
part of Executive.

          8.02 Executive shall treat as confidential and keep secret the affairs
of the  Corporation  and shall not at any time during the term of  employment or
thereafter,  without  the prior  written  consent of the  Corporation,  divulge,
furnish or make known or accessible  to, or use for the benefit of, anyone other
than the  Corporation and its  subsidiaries  and affiliates any information of a
confidential  nature  relating in any way to the business of the  Corporation or
its  subsidiaries  or  affiliates  or their  clients and  obtained by him in the
course of his employment hereunder.

          8.03 All  records,  papers  and  documents  kept or made by  Executive
relating to the business of the Corporation or its subsidiaries or affiliates or
their clients shall be and remain the property of the Corporation.

          8.04 All articles invented by Executive,  processes discovered by him,
trademarks,  designs,  advertising  copy and art  work,  display  and  promotion
materials  and,  in general,  everything  of value  conceived  or created by him
pertaining  to the business of the  Corporation  or any of its  subsidiaries  or
affiliates during the term of employment, and any and all rights of every nature
whatever  thereto  and which are not in the  public  domain,  shall  immediately
become the property of the Corporation,  and Executive will assign, transfer and
deliver all patents,  copyrights,  royalties,  designs and copy, and any and all
interests and rights whatever thereto and thereunder to the Corporation.

          8.05 Following the termination of Executive's employment hereunder for
any  reason,  Executive  shall  not for a  period  of two (2)  years  from  such
termination,  (a) solicit any employee of the  Corporation,  Interpublic  or any
affiliated  company of  Interpublic  to leave such employ to enter the employ of
Executive or of any person,  firm or  corporation  with which  Executive is then
associated  or (b) solicit or handle on  Executive's  own behalf or on behalf of
any other person,  firm or corporation,  the event marketing,  public relations,
advertising, sales promotion or market research business of any person or entity
which is a client of the Corporation at the time of termination of employment.

          8.06 If at the time of enforcement of any provision of this Agreement,
a court shall hold that the duration, scope or area restriction of any provision
hereof is unreasonable  under  circumstances  now or then existing,  the parties
hereto  agree that the  maximum  duration,  scope or area  reasonable  under the
circumstances  shall be substituted by the court for the stated duration,  scope
or area.

          8.07  Executive  acknowledges  that a remedy at law for any  breach or
attempted  breach of Article  VIII of this  Agreement  will be  inadequate,  and
agrees  that the  Corporation  shall be entitled  to  specific  performance  and
injunctive  and  other  equitable  relief  in the  case of any  such  breach  or
attempted breach.

          8.08 Executive  represents and warrants that neither the execution and
delivery  of this  Employment  Agreement  nor  the  performance  of  Executive's
services  hereunder  will conflict with, or result in a breach of, any agreement
to which  Executive  is a party or by  which  he may be  bound or  affected,  in
particular  the terms of any  employment  agreement to which  Executive may be a
party.  Executive further  represents and warrants that he has full right, power
and  authority  to enter into and carry out the  provisions  of this  Employment
Agreement.

                                   ARTICLE IX
                                   ----------

                                  Arbitration
                                  -----------

          9.01 Any  controversy  or claim  arising  out of or  relating  to this
Agreement,  or the breach thereof,  including claims  involving  alleged legally
protected rights,  such as claims for age discrimination in violation of the Age
Discrimination  in Employment  Act of 1967,  as amended,  Title VII of the Civil
Rights  Act,  as  amended,  and all  other  federal  and state  law  claims  for
defamation, breach of contract, wrongful termination and any other claim arising
because of Executive's employment, termination of employment or otherwise, shall
be settled by arbitration in accordance with the Commercial Arbitration Rules of
the American  Arbitration  Association  and Section 12.01 hereof,  and judgement
upon the award rendered by the  arbitrator(s) may be entered in any court having
jurisdiction  thereof.  The  arbitration  shall  take place in any of the cities
where Executive customarily renders services to the Corporation.  The prevailing
party in any such arbitration  shall be entitled to receive  attorney's fees and
costs.

                                   ARTICLE X
                                   ---------

                                   Assignment
                                   ----------

          10.01 This Agreement shall be binding upon and enure to the benefit of
the  successors and assigns of the  Corporation.  Neither this Agreement nor any
rights  hereunder  shall be  assignable  by  Executive  and any  such  purported
assignment by him shall be void.
<PAGE>
                                   ARTICLE XI
                                   ----------

                                Agreement Entire
                                ----------------

          11.01   This   Agreement   (and  the  ESA)   constitutes   the  entire
understanding between the Corporation and Executive concerning his employment by
the Corporation or any of its parents, affiliates or subsidiaries and supersedes
any and all previous  agreements between Executive and the Corporation or any of
its parents,  affiliates or subsidiaries concerning such employment,  and/or any
compensation or bonuses.  Each party hereto shall pay its own costs and expenses
(including legal fees) incurred in connection with the preparation,  negotiation
and execution of this Agreement. This Agreement may not be changed orally.

                                  ARTICLE XII
                                  -----------

                                 Applicable Law
                                 --------------

          12.01 The  Agreement  shall be governed by and construed in accordance
with the laws of the State of New York.

                              THE INTERPUBLIC GROUP OF
                              COMPANIES, INC.



                              By /s/ C. KENT KROEBER
                                ----------------------------------------
                                Name: C. KENT KROEBER
                                Title:  Senior Vice President, Human
                                        Resources




                                 /s/  FRANK B. LOWE
                                ----------------------------------------
                                    FRANK B. LOWE

Source: OneCLE Business Contracts.