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�• <br /> SECTION SI%. EMPLOYEE's Salary. The EMPLOYEE shall receive <br /> a salary at an annual rate of Eighty-nine Thousand Seven Hundred <br /> Dollars ($89,700.00) , for the period commencing October 1, 1992, <br /> and said salary shall be payable in biweekly installments as per <br /> the pay plan generally applicable to all other CITY employees. On <br /> May 1, 1993, the CITY agrees to review the annual salary provided <br /> to the EMPLOYEE and may, at its option, take such action as may be <br /> necessary to increase said salary if so determined by said City <br /> Council. <br /> The CITY is on a fiscal year of May 1 through April 30, <br /> and it is the intent of the parties hereto, provided that the CITY <br /> desires to continue to employ the EMPLOYEE, and further provided <br /> the EMPLOYEE desires to be employed as the City Manager for the <br /> CITY, that this Agreement will be reviewed by the parties prior to <br /> May 1, 1993, and that a new agreement may be entered into by the <br /> parties effective May 1, 1993. <br /> SECTION SEVEN. Vacation Leave. The EMPLOYEE shall be <br /> entitled to twenty (20) days of paid vacation leave each year. The <br /> days shall be posted to the EMPLOYEE's account as of May 1. Unused <br /> vacation leave may be carried forward from one year to the next at <br /> the discretion of the EMPLOYEE. However, notwithstanding the <br /> foregoing, it is agreed and understood that the EMPLOYEE shall take <br /> at least three (3) weeks (i.e. , fifteen (15) days) of his vacation <br /> in each year. Any vacation leave accrued and remaining unused at <br /> the termination of this Agreement will be paid in cash to the <br /> EMPLOYEE, subject to customary withholdings, in an amount equal to <br /> 3 <br />