Employment Agreement between America’s Car-Mart, Inc. and Eddie Lee Hight
America’s Car-Mart, Inc. has a written employment agreement with Eddie Lee Hight, providing him with a $170,000 annual salary and a quarterly bonus equal to 0.5% of the company’s net income. Mr. Hight also receives benefits such as a company car, cell phone, health insurance for himself and his family, and potential payment of health or country club dues and long-term disability insurance. The company’s board of directors may adjust his salary, bonus, and benefits. Some benefits were not paid during fiscal 2005.
Exhibit 10.7.4
Employment Arrangements with Eddie Lee Hight
America’s Car-Mart, Inc. (the “Company”) has a written employment agreement with Eddie Lee Hight. This agreement is filed as Exhibit 10.7 to the Company’s Quarterly Report on Form 10-Q for the quarter ended July 31, 2003. Mr. Hight receives an annual salary of $170,000 per year and a quarterly bonus equal to 0.5% of the Company’s net income during such period. In addition to the benefits described in his employment agreement, Mr. Hight is entitled to the following fringe benefits: use of a company car, cell phone service, long-term disability insurance, health insurance for him and his family and payment of health or country club dues. The Company did not make any payments for dues to a health or country club or long-term disability insurance for Mr. Hight during fiscal 2005. Mr. Hight’s salary, bonus and fringe benefits are subject to adjustment at the discretion of the Company’s board of directors and price increases.
