ecoMIcs Ne, 125 Avenue ol he Americas New York, Sew York 10012 (218) 836 35 Fac 21) 8365401 Patmos eit aoe Dated as of August 1, 1992 Mc. Frank Shuster Ms. Jean Shuster Peavy 987120 Queens Blvd., apt. 4K 316 Horton Lane, NW Rego Park, NY 11974 Albuquerque, NM’ 87114 Dear Mr. Shuster and Ma. Peavy: This is to confirm our agreenent to pay you, collectively, a total of $25,000 a year, payabla to Jean Shuster Peavy, commencing aa of Auguat. s° 1992, for as long as either one of you is alive. Such amounts shell wo Payable in accordance with Warner Communication ‘Inc. ’s customary payroll practices and shall be subject to all applicable withholding taxes’ =2’Soan Shuster Peavy shail predecease Frank shuster, then the foregoing paynente Jong as‘he shall Live. Wa ack you to confirm by your signatures below that this agreenent fully gettles ali clains to any payments or other rights or renedies which You nay have under any other agreement or othervise, whether now or hevestecy existing regarding any copyrights, tradenarks, or other property signt in ary and all work created in vhole or in part by your brother, Joseph Shuster, oy any works based thereon. In any event, you now grant to us any such rights and release us, our licensees and all others acting with our permission, ard gOovenant not to assert any claim of right, by suit or otherwise, with respect to the above, now and forever. Tt, despite the terns of this agreement, either of you assert any such claim of right, for any reason, you agree to refund to us, upon she making oe aay such assertion, all amounts previously paid to you heseunder, and we Gill have no obligation to make any further payments under this agreement, "We also reserve all of our other rights, renedies and defenses in such an event If after full consideration of the foregoing, you accept and agree to all of the above, please so indicate by signing below where indicated, Very truly yours, ACCEPTED AND AGREED 7 Fovawk SHun fer Frank Shuster patea: Ife far a 7» :