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<br /> <br /> <br /> <br /> <br /> <br /> 2. Compensation. <br /> <br /> 2.1 Salary <br /> <br /> City agrees to pay City Manager, and City Manager agrees to accept from City, as <br /> compensation for services rendered by City Manager pursuant to this Agreement, an annual base <br /> salary, commencing on the Effective Date, in the amount of two hundred sixty-five thousand <br /> dollars ($265,000) (hereinafter "Annual Base Salary"), payable in installment payments in the <br /> same manner and at the same times as salaries of other executive managers of the City are paid. <br /> <br /> Commencing in May, 2013 and each year thereafter, said Annual Base Salary <br /> shall be eligible for upward adjustments subject to the same procedures by which the salaries of <br /> other executive managers of City are adjusted for meritorious performance, except that any such <br /> adjustments shall be at the sole discretion of the City Council and approved by amendment to <br /> this Agreement. <br /> <br /> The term "Annual Base Salary" as used in this Agreement shall also include any <br /> such adjustments approved by the City Council other than payments not eligible to be added to <br /> the City Manager's Annual Base Salary pursuant to the terms of any applicable salary resolution <br /> of City. The term "Monthly Base Salary" as used in this Agreement shall mean a sum of money <br /> equal to one-twelfth (1/12) of City Manager's Annual Base Salary as defined herein. <br /> <br /> 2.2 Benefits <br /> <br /> In addition, and except as otherwise specified herein, City Manager shall receive <br /> all such other benefits and compensation that are generally applicable to executive managers, the <br /> city clerk and the city attorney of the City as of the Effective Date of this Agreement, as the same <br /> may be modified from time to time after the date of this Agreement, including but not limited to <br /> medical insurance, long term disability insurance, life insurance, sick leave, deferred <br /> compensation, holidays, vacation, bereavement and family illness leave, physical examinations, <br /> and participation in retirement system. The City Manager is entitled to accrue all unused leave, <br /> without limit, and in the event the City Manager's employment is terminated, either voluntarily <br /> or involuntarily, the City Manager shall be compensated for all accrued vacation time, all paid <br /> holidays, all executive leave and all other benefits to the termination date, except for the special <br /> sick bank time established under section 2.3 herein. For purposes of continuing participation in <br /> the City's retiree medical program, the City Manager shall receive the same benefit as other City <br /> executive managers. <br /> <br /> 2.3 Supplemental Sick Leave Bank <br /> <br /> In addition to the accrual of regular sick leave, upon commencing employment <br /> the City Manager shall have sole access to a bank of 180 sick hours to be used in the case of <br /> serious medical conditions. This leave can only be used to provide coverage during the waiting <br /> period between the onset of illness or disability and the point at which short or long-term <br /> disability coverage takes effect. Under no condition can the balance of this special sick time <br /> account be cashed in under section 2.2 of this Agreement. Any unused sick days in this bank, at <br /> <br /> 45635.01000\7118043.4 50 2 _4 <br />