Laserfiche WebLink
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: ($20,000 voluntary contribution) <br /> = 2015-2016 Effective Base Salary <br /> Year 2: 2015-2016 Annual Base Salary (x) CPI = 2016-2017 Annual Base Salary <br /> Less: ($20,000 voluntary contribution) <br /> = 2016-2017 Effective Base Salary <br /> Year 3: 2016-2017 Annual Base Salary (x) CPI = 2017-2018 Annual Base Salary <br /> Less: ($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) By or on March 5, 2015, City shall pay Manager a one-time lump sum <br /> payment of twenty-two thousand three hundred dollars and zero cents ($22,300.00) in <br /> recognition of the City Manager's performance during the term of this Agreement. If Manager's <br /> employment is terminated in accordance with Section 6 prior to the end of the five year term of <br /> this Agreement,with or without cause,Manager shall reimburse City the aforementioned lump <br /> 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 /> 5 <br />