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R90-108 AUTHORIZING AGREEMENT - JAMES C. BACON, JR.
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R90-108 AUTHORIZING AGREEMENT - JAMES C. BACON, JR.
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8/4/2016 8:00:45 AM
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Resolution/Ordinance
Res Ord Num
R90-108
Res Ord Title
AUTHORIZING AGREEMENT - JAMES C. BACON, JR.
Approved Date
8/6/1990
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Agreement will be paid in cash to the Employee at such time in an <br /> amount equal to the number of such unused vacation leave days <br /> multiplied by the Employee ' s then current annual salary divided <br /> by two hundred sixty (260) . <br /> 6 . ) SICK LEAVE. The Employee shall accrue twenty (20) days <br /> of sick leave as of October 1 , 1988 . Thereafter, the Employee <br /> shall earn one additional day of sick leave for each month of <br /> service under the provisions hereof. Sick leave may be accrued <br /> to a maximum of 240 days. <br /> 7 . ) DEFERRED COMPENSATION. On or before January 15 , 1989 , <br /> and on or before each January 15 of each year thereafter during <br /> the term of this Agreement, the City of Decatur shall contribute <br /> $2500 to the ICMA Retirement Corporation Deferred Compensation <br /> Plan on behalf of the Employee. On or before May 15 , 1989 and on <br /> or before each May 15 of each year thereafter during the term of <br /> this Agreement, the City of Decatur shall contribute an <br /> additional Five Thousand Dollars ($5 ,000) to the ICMA Retirement <br /> Corporation Deferred Compensation Plan on behalf of the Employee. <br /> Should the Employee voluntarily separate from employment with the <br /> City prior to October 1 , 1991 , he shall be obligated to repay an <br /> amount equal to sixty per cent (60$) of all payments made under <br /> this paragraph. Should the employee voluntarily separate from <br /> employment with the City prior to October 1 , 1992 , he shall be <br /> obligated to repay an amount equal to 40� of all payments made <br /> under this paragraph; should he leave thereafter but prior to <br /> October l , 1993 , he shall be obligated to repay an amount equal <br /> to 20$ of all payments made under this paragraph. It is mutually <br /> understood that this repayment shall be made directly to the City <br />
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