This paper argues that agreement is a theta-role bearer, either directly, when agreement is externally merged in a theta position, or indirectly, when it is internally merged, heading an argument chain. Like true clitics, agreement is either pronominal or anaphoric in nature, hence either locally free or locally bound. This distinction accounts for the fact that some languages with rich subject verb agreement are null subject languages (Italian, Spanish, Arabic etc.), whereas others are not (German, Icelandic). The paper also discuss pre- and postverbal subjects in null subject languages, alternate agreement languages and the occurrence of oblique subjects in Icelandic.