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SECTION 7. COMMON SPACE <br />Common space can be scheduled and used for convention purposes <br />at a rental fee as determined by the Century Center Board when the same <br />is determined to be available by the Century Center Board. Common space <br />is that uncommitted space subject to general use. <br />SECTION 8. OPERATIONS <br />The Century Center Board and the Board of Managers agree to <br />establish a joint committee made up of three (3) members from the Century <br />Center Board and three (3) members from the Board of Managers. The duties <br />of the joint committee shall be to consider and make recommendations to the <br />Century Center Board on the operations of the convention center including <br />the following specified matters; <br />A. The preparation of rules and regulations for the <br />operation of the convention facility, provided it <br />shall be the purpose of those rules and regulations <br />to promote the operation of the facility for conven- <br />tion purposes. <br />B. The hiring and discharging of all salaried personnel <br />utilized in the convention facility, provided that the <br />joint committee may recommend policies to govern the <br />hiring and discharging of all such salaried personnel. <br />C. The preparation of budgets for the operation of the <br />convention facility. <br />D. Accounting procedures for the determination of profit <br />and loss of the operation of the convention facility; <br />provided depreciation shall not be taken into account <br />in determining profit and loss, except upon agreement <br />by both boards, and provided further, that the deter- <br />mination of profit and loss for the operation shall <br />be determined by sound accounting procedures as estab- <br />lished by a certified public accountant approved by <br />both boards. <br />E. Rates and charges for all persons, groups or organiz- <br />ations utilizing the convention facility for conven- <br />tion purposes. <br />The joint committee shall oversee the operations of the conven- <br />tion facility, subject to supervision of the Century Center Board. <br />SECTION 9. MEDIATION AND ARBITRATION <br />In the event the joint committee is unable to agree by concur- <br />rence of four (4) of its members with respect to any matters specifically <br />provided for in this Agreement, each Board shall appoint an arbitrator who <br />shall be empowered to resolve such dispute. If such arbitrator fails to <br />resolve such dispute within fourteen (14) days, they shall agree to appoint <br />a third person to act as arbitrator with them and the dispute shall be <br />resolved by the concurrence of two (2) of the arbitrators. In the event <br />the Board or persons fail to name an arbitrator as providedfor herein, <br />-3- <br />