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Billy Carter — Part 4
Page 12
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4, Regular Compensation. For all the services to be
rendered by EMPLOYEE in any cepacity hereunder, including Services
as an officer, member of the EMPLOYER'S Board of Directors, or any “
other ‘duties assigned to him by the Poara or Directors, EMPLOYER”?
shall pay EMPLOYEE a salary of $. Wein per HEA, payable
at the end of each month during the term of this Agreement. ;
The EMPLOYER and EMPLOYEE may, from time to time, reflect
increases or decreases in EMPLOYEE'S aeshly, salary as may be
mutually agreed upon: by entering any such change upon the "Schedule
of Compensation" - attached hereto as Exhibit "A" and made & part |
_ hereof. Ir a change in compensation is entered on said Schedule
and duly signed by the proper officers of EIQLOYER and by EMPLOYEE,
said entry shall constitute an amendment to this Employment Agree-
. ment as of the date. of said entry and shall supersede the monthly 3" :
salary provided for in the immediately preceding paragraph of this
Agreement ‘and vany other change or changes in monthly compensation
previously entered on said Schedule.: :
It is understood and agreed, however, that in the event a
deduction shall be disallowed for Federal ané/or State income tax
purposes of all or any pert of the compensstion provided for in
Paragraph 4 or Paragraph 5 of this Agreement and EMPLOYER shall
be required to pay a deficiency on account of such disallowance,
EMPLOYEE shall refund to the EMPLOYER an amount equal to the
disallowed portion of such compensation. Such disallowed amount
shall be paid to EMPLOYER within one (1) year after the date
on which EMPLOYER paid the deficiency with respect to such :
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