CONTRACT 3474A - PERM Amendment CLOSEDA2K4 14
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
( "AMENDMENT NO. 1 ") is entered into this 1St day of August, 2006, between the City
of El Segundo ( "CITY ") and Jeffrey L. Stewart ( "EMPLOYEE ") with respect to that
certain EMPLOYMENT AGREEMENT entered into between the CITY and
EMPLOYEE on May 3, 2005 ( "AGREEMENT ").
Effective as of July 1, 2006, the CITY and EMPLOYEE do hereby agree to
amend Sections 4(A) and 4(C) of the AGREEMENT and replace these sections in their
entirety with the following language:
"(A) EMPLOYEE'S annual base salary is $162,680 which shall be paid in equal bi-
weekly payments. In addition, subject to the City Council's sole discretion, on July 1,
2007, EMPLOYEE shall be eligible to receive a single payment in an amount not to
exceed $17,500 based on EMPLOYEE'S performance during the prior twelve- month
period of this Agreement. In addition, the City Council shall evaluate EMPLOYEE'S
performance and salary annually following the effective date of this AGREEMENT and
determine in its sole discretion whether to increase EMPLOYEE'S compensation. Any
increase in compensation must be a writing signed by the parties;"
"(C) EMPLOYEE shall be entitled to all other benefits of employment now in effect
(excluding salary increases which are governed by Section 4 (A) above), or as hereafter
approved by the City Council, which are provided to other management employees of the
CITY, except EMPLOYEE shall be entitled to received up to three percent matching
funds from the CITY based upon EMPLOYEE'S participation in the CITY'S deferred
compensation program. EMPLOYEE shall accrue executive, vacation and sick leave at
the maximum rate provided for management employees."
All of the other terms and conditions of the AGREEMENT shall remain in full
force and effect.
CTTV
ATTEST:
rerfrom
i
0 Mark ' Hensley, ity Attorney
3.,2 4 7 4 A .° .',
EMPLOYEE: