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648 <br /> <br />President Rhodes announced that the next item on the agenda was a resolution <br />approving and authorizing Addendum Number Two to the Employment <br />Agreement dated June 14, 1994, between the Paris Economic Development <br />Corporation, the Chamber of Commerce, and Gary L. Vest. President Rhodes <br />pointed out that the addendum makes changes to sections three, four, seven, <br />eight, and fifteen and he read those sections, pointing out the changes. <br /> <br />President Rhodes advised that section three, CompensatiOn, states that PEDC <br />and Chamber shall pay Mr. Vest a salary, before required deductions, of not less <br />than $5,687.50, which changed to $6,666.67 per month, payable monthly. All <br />such compensation shall be subject to the customary Withholding tax, social <br />security tax, and other employment or payroll taxes as may be required and <br />provided by the United .States of America or the State of Texas. President <br />Rhodes explained this change as updating the salary from 1995. <br /> <br />President Rhodes said that section four, Term, states that in the event that Mr. <br />Vest is terminated from his employment for any reason other than for cause, in <br />accordance with Section 13, PEDC and the Chamber agree to continue to pay <br />Mr. Vest's salary and benefits due hereunder for a period of 180 days, and the <br />suggested change is for a period of one year from the effective date of <br />termination. <br /> <br />President Rhodes said.that section seven, Vacation / Holidays, states that after <br />one year, Mr. Vest will receive three weeks vacation and he shall take vacation <br />in such year for which he is eligible for same, and Mr. Vest may not carry over <br />accrued vacation without express authorization of PEDC and the Chamber in <br />accordance with Lamar County Chamber of Commerce Policy. Mr. Rhodes <br />advised that the consideration is accrued vacation time as opposed to not being <br />able to accrue vacation time under the present agreement. <br /> <br />Mr. Rhodes advised that section eight, Automobile / Travel Expenses, is <br />ch~inging car allowance from $500.00 to $700.00 per month, if the Chamber of <br />Commerce did not provide Mr: Vest a vehicle. In the event that for some reason <br />the Chamber does not provide a vehicle, he recommends raising the amount to <br />a more realistic figure. <br /> <br />Mr. Rhodes said the last change is in section fifteen, PEDC's Contribution, <br />which states that PEDC agrees to pay to the Chamber of Commerce $26,250.00 <br /> <br /> <br />