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will provide written notice to City Manager that the Agreement will not be extended and <br />consequently will terminate as of the end of the current term. <br />If action is not taken by City Council within three (3) months before the expiration <br />of the initial term of this Agreement on November 16, 2018, this Agreement shall on February 16, <br />2019, automatically extend for one (1) year from February 16, 2019 until February 16, 2020. For <br />each succeeding year that the City Council does not take action to extend or terminate this <br />Agreement by three (3) months before the then current end of the Agreement, the Agreement shall <br />automatically extend for an additional year. For example, if action is not taken by the City Council <br />to extend or terminate this Agreement by November 16, 2020, the Agreement shall on that date <br />automatically extend for one (1) year from February 16, 2021, to February 16, 2022, and if the <br />City Council doesn't take action to extend or terminate this Agreement by November 16, 2021, it <br />will automatically extend for one (1) year from February 16, 2022 to February 16, 2023. <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 the <br />same manner and at the same times as salaries of other executive managers of the City are 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 the <br />City Manager's Annual Base Salary pursuant to the terms of any applicable salary resolution of <br />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) Right of Estate to Accrued Salary <br />City agrees that if the City Manager dies during the term of this Agreement, his <br />estate is entitled to accrued salary as of date of death as defined in section 2.1(a) under this <br />Agreement. <br />(c) Deferred Compensation <br />City Manager shall receive as additional compensation added to his base salary and <br />deducted therefrom pursuant to Government Code Section 53214, deferred compensation in the <br />maximum annual amount permitted pursuant to Section 457 of the Internal Revenue Code at the <br />time of execution of this Agreement, said amount consisting of the maximum Standard <br />contribution and the Age 50+ contribution. <br />55394.00000A8170424.1 <br />