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Manager's voluntary commitment to contribute $20,000 of his Annual Base Salary towards the <br />salaries of the Police Chief and the Assistant City Manager shall automatically terminate on <br />December 31, 2017, which coincides with the expiration of the terms of the Police Chief and <br />Assistant City Manager's respective employment agreements. Effective January 1, 2018, <br />Manager's Annual Base Salary shall be equal to the previous year's Annual Base Salary multiplied <br />by the CPI, as provided in Section 7.a. For reference purposes only, and assuming that the <br />Police Chief and the Assistant City Manager continue as employees of the City until the <br />expiration of their employment agreements, the parties provide the following calculation as an <br />example of how Manager's Effective Base Salary will phase out and into the Annual Base Salary <br />identified in Section 7.a.: <br />Year 1: Annual Base Salary of $223,000.00 (x) CPI = 2015-2016 Annual Base Salary <br />Less: <br />Year 2: 2015-2016 Annual Base Salary (x) CPI <br />Less: <br />Year 3: 2016-2017 Annual Base Salary (x) CPI <br />Less: <br />($20,000 voluntary contribution) <br />= 2015-2016 Effective Base Salary <br />= 2016-2017 Annual Base Salary <br />($20,000 voluntary contribution) <br />= 2016-2017 Effective Base Salary <br />= 2017-2018 Annual Base Salary <br />($20,000 voluntary contribution) <br />= 2017-2018 Effective Base Salary <br />(Commitment to make Voluntary Contribution terminates December 31, 2017) <br />Year 4: 2017-2018 Annual Base Salary (x) CPI = 2018-2019 Annual Base Salary <br />Year 5: 2018-2019 Annual Base Salary (x) CPI = 2019-2020 Annual Base Salary <br />(ii) Within fifteen (15) days of the execution of this Agreement, City shall pay <br />Manager a one-time lump sum payment of twenty-two thousand three hundred dollars and zero <br />cents ($22,300.00) in recognition of the City Manager's performance during the term of this <br />Agreement. If Manager's employment is terminated in accordance with Section 6 prior to the <br />end of the five year term of this Agreement, with or without cause, Manager shall reimburse City <br />the aforementioned lump sum payment on a pro -rata basis. <br />b. In addition to the compensation provided above, the City agrees to provide the <br />following to Manager in consideration for the services provided pursuant to this Agreement: <br />