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the requirements of the position of City Manager, but in any event <br /> not less than forty (40) hours per week. <br /> SECTION SIX. EMPLOYEE's Salarv. The EMPLOYEE shall receive <br /> a salary at an annual rate of Ninety-Seven Thousand Five Hundred <br /> Dollars ($97 ,500.00) for the period commencing May 1, 1995, and <br /> said salary shall be payable in biweekly installments as per the <br /> pay plan generally applicable to all other CITY employees. On or <br /> before May 1, 1996, the City agrees to review the Employee's <br /> performance, however, nothing contained herein shall limit either <br /> party's rights of termination as set forth more particularly in <br /> Section Seventeen. <br /> SECTION SEVEN. Vacation Leave. The EMPLOYEE shall be <br /> credited with twenty-five (25) days of vacation as of May 1, 1995, <br /> and shall be entitled to twenty (20) days of paid vacation leave <br /> each year thereafter. The days shall be posted to the EMPLOYEE's <br /> account as of May 1. Unused vacation leave may be carried forward <br /> from one year to the next at the discretion of the EMPLOYEE. <br />� However, notwithstanding the foregoing, it is agreed and understood <br /> that the EMPLOYEE shall take at least three (3) weeks (i.e. , <br /> fifteen 15 da s of his vacation in e c <br /> ( ) y ) a h year. �ny vacati�n <br /> leave accrued and remaining unused at the termination of this <br /> Agreement will be paid in cash to the EMPLOYEE, subject to <br /> customary withholdings, in an amount equal to the number of such <br /> unused vacation leave days multiplied by the EMPLOYEE's then <br /> current annual salary divided by two hundred sixty (260) . In no <br /> -3- <br />