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Works Director, then in that event, the City will pay Schroeder a lump sum cash payment <br />equal to one month of aggregate salary if termination occurs within the first three years of <br />employment with the City. Payment of severance benefit is conditioned upon Schroeder's <br />execution of a full release, in a form that is acceptable to the City, of any and all claims <br />arising out of his employment relationship with the City. Any severance payments will be <br />made without a matching deferred compensation payment from the City. In addition to said <br />severance pay, Schroeder shall be paid for any accrued and unused vacation. No <br />compensation shall be given for any unused sick leave. However, in the event Schroeder is <br />terminated because of his conviction for any illegal act involving personal gain to himself, <br />then the City shall have no obligation to pay the aggregate salary, accrued and unused <br />vacation or sick leave provided in this paragraph. <br />If during the first three years of employment the City reduces the salary or other financial <br />benefits to Schroeder in a greater percentage than across - the -board reduction for all City <br />employees, or if the City refuses, following written notice, to comply with any other <br />provisions in this Agreement benefiting Schroeder, then Schroeder may, at his option, be <br />deemed to be "terminated" on the date of such reduction or refusal to comply with the <br />provisions of this Agreement. In this event, Schroeder shall be entitled to severance pay in <br />accordance with this Agreement. <br />If Schroeder voluntarily resigns his position with the City, Schroeder agrees to give the City <br />twenty -one (21) days advance notice. If Schroeder voluntarily resigns his position with the <br />City, there shall be no severance pay due to Schroeder nor payment for unused sick leave. <br />Schroeder will be paid for any unused vacation pay. <br />Page 38 <br />