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City Council doesn't take action to extend or terminate this Agreement by July 20, 2018, it will <br />automatically extend for one (1) year from October 21, 2018 to October 20, 2019. <br />2. Compensation. <br />2.1 Salary <br />(a) Annual 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 Three Hundred Fifteen Thousand <br />Dollars ($315,000.00, hereinafter "Annual Base Salary"), payable in installment payments in <br />the same manner and at the same times as salaries of other executive managers of the City are <br />paid. <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 />(b) Deferred Compensation. <br />City Manager shall receive as additional compensation added to his base salary <br />and deducted therefrom pursuant to Government Code Section 53214, deferred compensation in <br />the maximum annual amount permitted pursuant to Section 457 of the Internal Revenue Code at <br />the time of execution of this Agreement, said amount consisting of the maximum Standard <br />contribution and the Age 50+ contribution. <br />(c) Performance Bonus <br />Each fiscal year, commencing with the fiscal year that starts on July 1, 2014, the <br />City Council may grant to City Manager a performance bonus. Whether or not to grant a bonus <br />and the amount of any such bonus shall be in the sole discretion of the City Council. The <br />decision by the City Council regarding the performance bonus shall be made for each fiscal year <br />at the time the City Council is providing the performance evaluation of City Manager required <br />by paragraph 3 of this Agreement. <br />It is the understanding and intent of the City and City Manager that performance <br />bonuses are not reportable to the California State Public Employees Retirement System <br />("CalPERS"), and are not to be included in the calculation of City Manager's retirement <br />allowance. Performance bonuses are not added to the annual base salary. <br />45635,01000\7118043.4 2