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3, RESIGNATION AND TERMINATION <br />(a) Employee may resign at any time with or without cause and agrees to give City at least <br />sixty (60) days advance written notice of the effective date of his resignation. <br />(b) Subject to the provisions of the Charter, City may at any time terminate Employee upon <br />thirty (30) days advance written notice. <br />(c) The parties recognize and affirm that: 1) Employee is an "at will" employee whose <br />employment may be terminated by the City without cause, and 2) There is no express or <br />implied promise made to Employee for any form of continued employment. This <br />Agreement is the sole and exclusive basis for an employment relationship between <br />Employee and City. <br />SEVERANCE PAY <br />If Employee is terminated by the City Council while still willing and able to perform the duties of City <br />Manager, City agrees to pay Employee a cash payment equal to six (6) months salary and <br />benefits. At the option of the Employee, the cash payment may be paid in (1) a lump sum upon <br />date of termination; or (2) a lump sum on January 1 of the calendar year following termination. <br />Such payment will release City from any further obligations under this Agreement. Provided <br />however, if Employee is terminated because of conviction of any criminal offense, then City shall <br />have no obligation to continue the employment of Employee or to pay the severance set forth in <br />this paragraph. <br />5. SALARY <br />(a) For the term of this Agreement, City agrees to pay Employee a salary 15% above step five <br />of the salary range of the highest paid City management employee as shown in the City <br />Council adopted Pay Plan (hereafter referred to as "the Baseline Salary".) Employee's <br />compensation shall be adjusted whenever the Baseline Salary is adjusted so that <br />Employee's salary shall not be less than 15% above the Baseline Salary at any time during <br />the term of the Agreement. <br />(b) Subject to an annual evaluation of performance prior to the end of each calendar year of <br />this Agreement and based upon extraordinary performance of Council approved <br />performance indicators (Exhibit A hereof), City may pay Employee a bonus of up to 10% of <br />Employee's annual salary. <br />6. AUTOMOBILE <br />Employee's duties require that he shall have the use of an automobile at all times during his <br />employment with City. At the option of Employee, City shall either provide Employee with an <br />