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other executive managers of the City are paid. <br />The tern "Annual Base Salary" as used in this Agreement shall also include any such <br />adjustments approved by the City Council other than payments not eligible to be added to the City Manager's <br />Annual Base Salary pursuant to the teens of any applicable salary resolution of City. The tern "Monthly Base <br />Salary" as used in this Agreement shall mean a surn of money equal to one -twelfth (1/12) of City Manager's <br />Amnial Base Salary as defined herein. <br />2.2 Benefits <br />2.2.1 Intentionally Left Blank. <br />2.2.2 Sick Leave Bank <br />City Manager shall accrue Sick Leave at a monthly rate equal to 96 hours per year. <br />2.2.3 Sick Leave Accrual <br />City Manager will accrue 8 hours of sick leave per month. <br />2.2.4 Vacation Allowance <br />Upon employment with City, City Manager shall be awarded a bank of 80 hours of vacation <br />leave and shall accrue monthly rate equal to 160 hour per year. City manager shall accumulate 100 hours per <br />year of management vacation. <br />2.2.5 Ca1PERS Membership <br />As a classic member under CalPERS, City Manager will be enrolled in the 2.7% at age 55 <br />benefit formula and shall be responsible for paying the corresponding employee contribution per Cal PERS <br />requirements as they exist today or as may be amended by the legislature. As of the effective date of this <br />Agreement the applicable contribution rate for miscellaneous classic members is 8%. <br />2.2.6 Life Insurance <br />City will purchase life insurance for City Manager in the amount of five hundred thousand <br />dollars ($500,000). <br />3. Performance Evaluation. <br />The Mayor and the City Council are responsible for setting performance goals on an annual basis <br />in consultation with the City Manager. The City Council shall review and discuss City Manager's performance <br />in or around November of each year commencing in 2018. However, Employee acknowledges and accepts the <br />fact that the City Council as Employer has the right to schedule an evaluation session at any time in accordance <br />with the notice and all other requirements of the Brown Act. City has agreed to engage and pay for a <br />professional consultant to administer the evaluation at the request of City Manager. <br />4. Bonds. <br />City shall bear the frill cost of any fidelity or other bonds required of City Manager under any <br />law or ordinance. <br />2 <br />