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Second year ------------------ 2,400.00 per annum Third year ------------------ 2,600.00 per annum Fourth year ------------------ 2,800.00 per annum Fifth year ------------------ 3,000.00 per annum Sixth year ------------------ 3,200.00 per annum Seventh year ----------------- 3,400.00 per annum Eighth year and thereafter --- 3,600.00 per annum (b) Pilots who have been receiving more than the amounts set forth above at the time this Agreement becomes effective shall not have their base pay reduced by the operation of this Section. (c) The computation of a first pilot's pay shall be in accordance with the aggregate amount of time in the service of the Company on first pilot's base pay status, and, in addition, all co-pilot time spent in the service of the Company in excess of four years (d) Time of reserve pilots with less than four years' service with the Company, while acting as first pilots, shall, for the purpose of establishing longevity for base pay purposes, be credited on the basis of the ratio of the hours flown by a reserve pilot as first pilot, to the total hours flown by him during the month, such month or fraction thereof shall be counted in his aggregate length of service as first pilot (e) When a first pilot is reduced to co-pilot status all of his time spent as designated pilot with the Company shall be credited for co-pilot pay computation purposes. (f) Pilots in the employ of the Company based outside the continental United States shall be paid in United States currency, or its equivalent in the same manner and in the same amounts as the Company's pilots based within the continental United States. HOURLY PAY COMPUTATION: 2. Section 4 of the Agreement is hereby amended to read as follows: SECTION 4. *(a) In addition to base pay each first pilot or reserve pilot, for flying pay purposes, shall be paid hourly flying pay at rates, based upon the speed of the Page Fifty