Financial Services Agreement between AT&T Corp. and Thomas W. Horton (July 24, 2002)

Summary

This agreement between AT&T Corp. and Thomas W. Horton allows Mr. Horton to use his personal financial counselor, instead of participating in AT&T's standard financial counseling program for officers. AT&T will pay for financial counseling, tax preparation, and estate planning services for Mr. Horton and his spouse, up to the limits set by the company's program. The company will also provide a federal tax allowance on these payments. Mr. Horton must submit bills for these services to AT&T for processing. The agreement is effective upon Mr. Horton's signature.

EX-10.III.A.23 8 y92576exv10wiiiwaw23.txt FINANCIAL SERVICES AGREEMENT Exhibit (10)(iii)(A)23 (AT&T LOGO) July 24, 2002 Thomas W. Horton c/o AT&T Corp. 295 North Maple Avenue Basking Ridge, NJ 07920 Tom, This letter will document the discussion you have had with Rebecca Sugalski relative to your financial counseling, tax preparation and estate planning services. I am happy to honor your request to utilize the services of your personal financial counselor who is employed by a firm outside of AT&T's (the Company's) current financial counseling program for Officers. The Company shall provide payment for financial counseling fees from your personal financial counselor during your employment with the Company, in lieu of your participation in AT&T's financial counseling program. Fees subject to payment by the Company shall be in accordance with those services provided under AT&T's financial counseling program, and include fees for individual financial counseling, preparation of personal federal and state income tax returns and wills and other estate planning documents for you and your spouse. Dollar amounts to be paid shall be limited to the amounts the Company provides for under its financial counseling program. The Company shall impute to you the amount of the payments and will pay you a federal tax allowance on the fees, calculated in accordance with Company practices applicable to other Company executives. Please be sure to provide unpaid financial counseling, tax preparation and estate planning bills directly to Noreen Fitzgerald in the Executive Employment Contracts / Benefits Plans Team for processing. Tom, if you agree with the terms and conditions detailed herein, please sign this letter in the space provided below, prior to August 5, 2002. For your records, make a copy and then return the executed copy to Rebecca Sugalski in the Executive Employment Contracts / Benefits Plans Team. Sincerely, /s/ Mirian Graddick-Weir Mirian Graddick-Weir /s/ Thomas W. Horton 7/26/2002 - ----------------------------------------- ---------------------- Agreed and Accepted Date Thomas W. Horton