Laserfiche WebLink
'• • <br /> b. Severance Payment. The Severance Payment shall <br /> consist of an amount equal to three (3) months of <br /> Base Salary. The Severance Payment shall be <br /> delivered to Cassingham in full within ten (10) days of <br /> Cassingham's termination date. Delivery and <br /> acceptance of the Severance Payment shall comprise <br /> a full settlement and release between Cassingham <br /> and Town of any and all claims or damages and <br /> causes of action under this Agreement or its <br /> performance. <br /> c. Severance Benefit. The Severance Benefit shall <br /> extend certain employment benefits to Cassingham <br /> for ninety (90) days following her termination date, as <br /> specified herein. As of Cassingham's termination <br /> date, she shall cease accruing vacation time, sick <br /> leave, holidays, administrative leave or any other <br /> benefit except as provided herein. The Severance <br /> Benefit only extends the following employment <br /> benefits: <br /> 1) Health and Dental insurance as <br /> provided in Paragraph 4.1 herein; <br /> 2) Life Insurance as provided in Paragraph <br /> 4.2 herein; <br /> 3) Disability Insurance as provided in <br /> Paragraph 4.3 herein; and <br /> 4) Payment of both Cassingham's and <br /> Town's shares of contributions to PERS on behalf of <br /> Cassingham, as provided in Paragraph 4.4 herein. <br /> d. Termination for Cause. Where termination of <br /> Cassingham's employment by the Town is for cause, <br /> Cassingham is not entitled to either the Severance <br /> Payment or the Severance Benefit. "Cause" is <br /> defined as any one or more of the following: <br /> 1) Misappropriation by Cassingham of any <br /> funds or property of the Town; <br /> 2) Gross neglect or willful refusal to comply <br /> with the duties of City Manager as set <br /> forth in this Agreement; <br /> 623160-1 <br />