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AGREEMENT FOR EMPLOYMENT <br />TOWN MANAGER <br />This Agreement is made and entered into this day of November, 2007., by and between the <br />Town of Los Gatos, a California general law municipal corporation, hereinafter referred to as <br />'`Town" and Greg Larson, hereinafter referred to as "Larson." <br />RECITALS <br />A, The Town Council of the Town of Los Gatos has appointed Larson to the position of <br />Town Manager of the Town of Los Gatos on November 5, 2007. <br />B. It is the desire of the Town Council to establish the terms and conditions of employment <br />of Larson to the positions of Town Manager of the Town of Los Gatos, including the duties, salary <br />and benefits of employment. <br />C. Larson desires to accept employment as Town Manager ofthe Town of Los Gatos under <br />tlae terms set forth herein. <br />NOW, THEREFORE, in consideration of the respective and mutual covenants hereinafter <br />contained and made, and for other good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, and agreed, and subject to all the terms and conditions hereof, <br />the parties agree as follows: <br />1. Employment of Town Manager. This Agreement establishes the terms and conditions of <br />employment of Larson as the Town Manager of the Town of Los Gatos. <br />2. Duties. Larson shall perform the functions and dirties of the Town Manager as specified <br />under the laws of the State of California, the Los. Gatos Municipal Code, and the ordinances and <br />resolutions of Town, and perform such other duties and functions as the Town Council may <br />assign from time to time. <br />3. Term. Commencing on the effective date of this Agreement, which the parties agree shall <br />be January 7, 2007 ("Effective Date"), Larson agrees to perform those functions and duties <br />specified in the Town Code and the Government Code of the State of California, and to perform <br />such other legally permissible and proper duties and fiulctions as the Town Council shall from <br />time to time assign until this Agreement is terminated pursuant to its terms. <br />Compensation. <br />(a) Base Salary. Town shall pay Larson the annual base salary of one hundred ninety- <br />seven thousand dollars ($197,000.00) ("Base Salary"), in installments at the same time as other <br />employees of Town are paid. <br />Page 1 of 6 <br />