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G, I.[fe Insurance „and FccicJantal (each & Pon1,pss All&PL . The City will pay <br />one hundred percent (100 %) of the premium cost for term life and AD&PL Insurance <br />coverage under the policy It maintains on behalf of its employees in order to provide <br />Executive Management (EM) employees with life and AD &PL insurance coverage In an <br />amount equal to three times the employee's annual rate of salary to a maximum of <br />$300,000 provided Executive Management (EM) employees can provide evidence of <br />insurability for coverage above $150,000 if so required by the terms and conditions of <br />said term life and AD &PL insurance policy, <br />In the event an Executive Management (EM) employee Is determined to be ineligible for <br />said Insurance coverage, the City will attempt to provide as much coverage as may be <br />obtained at a reasonable cost without having to provide evidence of insurability. <br />Section 5, Leave Accruals and Cash-Out Provisions. <br />A, Paid Holiday Time Off. Executive Management (EM) employees are not required <br />to appear for work, except In emergencies, and will receive payment at his or her <br />current base salary rate for the following twelve (12) holidays during each year: <br />January 1st; third Monday in January; third Monday in February; last Monday in May; <br />July 0; first Monday in September; November 11th; Thanksgiving Day and the day <br />immediately - following- (Friday);- Bhrfstitra6- f-7ay; the -last - warkirrg- day- befare`Christmas <br />Day (unless Christmas Day falls on Thursday, in which instance the day following <br />Christmas Day will be observed) and one (1) floating holiday. Any holiday which falls on <br />Sunday will be observed on the following Monday and any holiday which falls on a <br />Saturday will be observed on the Friday preceding the holiday. <br />B, Vacation Time Off, Executive Management (EM) employees will be granted <br />regular and longevity paid vacation leave on the same basis as provided to represented <br />employees of the City, with the exception that such affected employees will be granted: <br />1, Regular vacation with pay at the annual rate of fifteen (15) working days <br />for each of his or her first and second completed year of service. <br />2. An additional five (5) working days per year over the regular and longevity <br />vacation accruals applicable to represented employees of the City. Affected Executive <br />Management (EM) employees must take at least five (5) consecutive days of vacation <br />leave each year. <br />C. Lo evt Vagat n Credits for Newly- I-lirgdw Executive Management EM) <br />jmploye ,s. The City Manager is authorized to grant to a person newly hired by the City <br />to a position designated as Executive Management (EM), longevity vacation credits in <br />the form of years of service to the City up to a maximum of 20 years. The credits will be <br />counted as completed years of service with the City for the purpose of calculating <br />longevity vacation accrual only. The longevity vacation credits will be added to the <br />years of service actually completed with the City of Santa Ana by the employee to <br />establish total years of service for the purpose of calculating longevity vacation, <br />