b'Subjecttothefourlimitations,thenewtaxcreditprovidesapowerfulincentivetoaddnewemployees,eventhemarginallycompetent .Ifyou addanewemployeeat$4,200andhegeneratesonly$2,100ofi ncome,your aftertaxcashflowisthesameasif youdidn\'thirehim. Thenewjobscreditcanbeincreased10%byhiringcertainhandicappedpersons. Ourguessisthatthejobscreditistheleastunderstoodtaxbenefit around.Touseit effectively,planningis essential.Thecreditis fullyexplainedinIRSPublication902nowavailableonrequestatIRS offices. REVISEDFRANCHISEAGREEMENTS 1.DowChemicalCompany.Earlierthisyear,DowChemicalCompany reviseditsformoffranchiseagreementwithcontractorslicensedtoinstal l theIIW.ASystem.Attherequestofseveralmembers,wereviewedtherevised agreementandcorrespondedwithDowChemicalCompanyconcerningseveral suggestedchanges.Ourprimaryconcernwiththerevisedagreementwaswith respecttoSection3.2whichwouldhaverequiredlicensedcontractorsto "assurethatallroofsconstructedhereundercttleastmeetminimumrecommendedcriteria".It wasouropinionthatsuchlanguagewouldhaveimposed adutyonlicensedcontractorswhichwasneitherappropriatenorrealistic. DowChemical.agreedtodeletesuchlanguage fromSection3.aswell 2 astomakecertainotherchangeswerequested,allofwhichchangeshave beenincorporatedintoafranchiseagreement"Addendum".Asrevisedbythe Addendum,webelieveDowChemical\'sfranchiseagreementtobeacceptabl e informandsubstancetoroofingcontractors.Ifyouhavepreviously executedthefranchiseagreementbuth~venotexecutedanaddendumtothat agreement,contactyourDowrepresentative.Ifyouwishacopyofthe Addendum,pleasecontacttheMRCAoffice. 2.W.R.Grace&Co.Attherequestofseveralmembers,wereviowed w.R.Grace&Co. \'sCRMRoofingContractorAgreement.Werequestedvarious changesintheAgreement,principallyinthe"IndemnityandHoldHarmless" clauseoftheAgreement.W.R.Grace&Co.agreedtomakemostofthe revisionsrequestedbyus,andwebelievethattheAgreementasnowrevised isacceptableinformandsubstancetoroofingcontractors.Th echanges willbeincorporatedbyW.R.Grace&Co.inthenextprintingofthe Agreementform.Inthemeantime,if anyofyouwishspecificinformation astotherevisionsagreedto,pleasecontacttheMRCAoffice.'