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- 2 - <br /> <br /> 6. Salary: Employee's salary paid to him during <br /> <br />the term of this Agreement shall be as follows: <br /> <br /> $37,000.00 pe=.year effective February ~, 1986, <br /> 39,500.00 per year effective August ~, ]986, <br /> 40,300.00 per year effective February 1, 1987, <br /> 41,100.00 per year effective August l, 1987, <br /> 41,900.00 per year effective February 1, 1988, <br /> 42,700.00 per year effective July 1, 1988. <br /> <br /> Employee will not receive any other salary increases <br />during the term of this Agreement. <br /> <br /> 7. FICA: The contributions required by Federal <br /> <br />and State law to FICA shall be made by the Employer and <br />Employee. <br /> <br /> 8. Deferred Compensation: The Employer shall <br /> <br />execute the necessary agreement allowing Employee to enroll in a <br />Deferred Compensation Plan of the Employee's choosing. Employer' <br />agrees to contribute an amount equal to five percent (5%) of <br />Employee's annual salary to said Deferred Compensation Plan. <br />Additional contributions to the Deferred Compensation Plan may <br />be made by the Employee at the Employee's discret'ion. <br /> <br /> 9. Insurance: The Employer will provide a <br /> <br />monthly sum of money to Employee which sum is to be applied <br />toward the cost of health and/or major medical insurance of <br />Employee's choosing. The sum provided by the Employer will be <br />the same amount which the Employer provides to its other <br />administrative staff. That amount is currently $140.00 per <br />month. Unused monthly health and major medical benefits shall be <br />paid to the Employee annually net of all taxes. <br /> <br /> <br />