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2. Compensation. <br />2.1 Salary <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 />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 />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 />2.2 Benefits <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 of <br />the City as of the Effective Date of this Agreement, as the same may be modified from time to <br />time after the date of this Agreement, including but not limited to medical insurance, long term <br />disability insurance, life insurance, sick leave, holidays, vacation, bereavement and family <br />illness leave, physical examinations, and participation in retirement system. The City Manager is <br />entitled to accrue all unused leave, without limit, and in the event the City Manager's <br />employment is terminated, either voluntarily or involuntarily, the City Manager shall be <br />compensated for all accrued vacation time, all paid holidays, all executive leave and all other <br />benefits to the termination date, except for the special sick bank time established under section <br />2.3 herein. For purposes of continuing participation in the City's retiree medical program, the <br />City Manager shall receive the same benefit as other City executive managers. <br />2.3 Supplemental Sick Leave Bank <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 duxing 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 />the date of termination of employment under this Agreement, shall be forfeited to the City. <br />45635.01000\7118043.4 2 <br />