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BASE SALARY and COMPENSATION ADJUSTMENTS. <br />a.) The City of Little Canada agrees to pay Hanson a salary of $100.618 per year for calendar <br />year 2007. $5.000 of that year's salary will be paid as deferred compensation as provided <br />in Paragraph 3 below. <br />b.) The City Council agrees to conduct a performance review and to review Hanson's <br />compensation prior to December l5t of each year. Within 15 days following the review, <br />Hanson's next year salary and any adjustments to the current year shall be determined. <br />Any amount unpaid (adjustment to the current year as of December 315` shall be remitted <br />in a lump sum by no later than March lst of the following year. <br />3. DEFERRED COMPENSATION. The City agrees to allow Hanson to enroll in the ICMA- <br />RC deferred compensation plan and to enroll in PERA. The City agrees to make its required <br />contribution to PERA on behalf of Hanson, and to contribute an additional $5,000 as stated in <br />Paragraph 2 to ICMA -RC. <br />4. VACATIONS. The City agrees to grant vacation to Hanson pursuant to the City's Personnel <br />Policy Section 13 - Leaves with Pay — Vacations. <br />5. SICK LEAVE. The City agrees to allow Hanson to accrue and utilize sick leave pursuant to <br />the City's Personnel Policy, Section 13 - Leaves with Pay — Sick Leave. <br />6. HOLIDAYS. The City will provide to Hanson the same standard holidays as enjoyed by <br />other employees and as set forth in Section 13 — Leaves with Pay — Holidays. <br />7. INSURANCE. The City will pay the cost of hospital and medical insurance for Hanson and <br />dependents. The City will pay the premium of Hanson's hospital and medical insurance <br />premium. Hanson has the option to have family health insurance coverage provided by the <br />City's employee health insurance plan or he may opt out of the City's employee health <br />insurance plan and obtain health coverage through his spouse's health insurance plan. If <br />