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T� <br /> EMPLOYMENT AGREEMENT <br /> • This Agreement, made between David M. Childs, an individual <br /> resident of the State of Minnesota (hereinafter referred to as <br /> "Childs" ) , and the City of St. Anthony, a Minnesota municipality <br /> (hereinafter referred to as the "City" ) . <br /> WITNESSETH: <br /> WHEREAS, the City desires to employ Childs to render <br /> services for, and on behalf of, the City on the terms and <br /> conditions hereinafter set forth, and Childs desires to be <br /> retained and employed by the City on such terms and conditions. <br /> NOW, THEREFORE, in consideration of the premises and of the <br /> mutual covenants and agreements contained herein, the parties <br /> hereto hereby agree as follows: <br /> 1. Employment. The City hereby employs Childs as its City <br /> Manager at such term as hereinafter defined, and Childs hereby <br /> accepts such employment and agrees to perform services for the <br /> City upon the terms and conditions set forth herein. In such <br /> capacity, Childs shall devote his full time, attention, energy, <br /> and skill to the business of the City during such hours as <br /> established by the City to perform his obligations hereunder. In <br /> such capacity, Childs shall render such services in a good and <br /> • business-like manner and shall assume and perform such <br /> responsibilities and duties as are set forth on Exhibit A <br /> attached hereto and made a part hereof and such other reasonable <br /> responsibilities and duties as may be specified from time to time <br /> by the City. <br /> 2. Term. Unless earlier terminated in accordance with <br /> Section 7 hereof, the term of Childs' employment hereunder shall <br /> commence January 1, 1989 and shall continue for a period of one <br /> year. <br /> 3 . Compensation. As compensation for Childs' services <br /> hereunder, the City shall pay to Childs an annual salary of <br /> $52,000.00. <br /> 4. Manner of Payment. All compensation payable to Childs <br /> hereunder shall be subject to all required and authorized <br /> withholdings. The salary payable to Childs pursuant to Section 3 <br /> shall be payable in accordance with the normal payroll procedures <br /> established from time to time by the City. <br /> In the event that Childs' employment is terminated either <br /> pursuant to paragraph (a) or (b) of Section 7, Childs shall be <br /> entitled only to that compensation described in Section 3 which <br /> has accrued prior to the date of termination, plus all amounts <br /> payable pursuant to Section 6 relating to fringe benefits which <br /> is <br /> have accrued prior to the date of termination. <br />