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• SECTION 6. SALARY A. Effective July 1, 2006 the Council agrees to pay the Manager for his services rendered pursuant to this agreement a base salary at the rate of $156,961.79 per year, payable on the same schedule as other salaried employees of the City are paid. B. City Council shall notify the Manager on or before May 1, 2007, and on or before each May 1 thereafter of the adjusted annual base salary it will pay the Manager during the ensuing 12 months of the agreement, which shall be no less than the salary set forth in Section 6 (A), unless the parties agree otherwise. SECTION 7. PAYMENTS ON NON -RENEWAL AND TERMINATION A. Non -renewal. If the City Manager desires his employment to extend beyond the end of the term established herein (April 30, 2011), he shall give a written request for renewal of his contract to City Council no later than February 1, 2010. In the event City Council shall elect not to renew this agreement, as may be requested by the Manager, it shall so advise the Manager in writing no later than April 30, 2010. In the event of such non -renewal, the Manager and City Council agree that the Manager shall be continue to be employed as City Manager through April 30, 2011, unless the parties mutually agree otherwise or unless employment is terminated pursuant to Section 7 (B). At the • conclusion of the Manager's employment on April 30, 2011, the Council shall continue Manager's salary as in effect as of the date of termination for each of the next six (6) months. The Manager may, in his sole discretion, elect to accept this severance as a one- time lump sum payment or as periodic payments for a period of his choosing. The Manager shall also be entitled to payment for any accrued annual vacation leave, and the City shall maintain in full force and effect the Manager's existing life insurance policies for a period of six (6) months from the end of the contract term. B. Early Termination. The City Council may terminate this agreement and the employment of the Manager without cause at any time during the contract term, upon written notice of the termination given to the Manager at least sixty (60) days prior to the effective date of the termination. In the event of such termination without cause, the City Council agrees that the City will pay to the Manager his salary in effect as of the date of termination for a period of eighteen (18) months following the date of termination. The Manager may, in his sole discretion, elect to accept this severance as a one-time lump sum payment or as periodic payments for a period of his choosing. The Manager shall also be entitled to payment for any accrued annual vacation leave, and the City shall maintain in full force and effect the Manager's existing life insurance policies for a period of eighteen (18) months from the date of termination. 0 3