09 Attachment 1 - Amendment to Town Manager Employment AgreementATTACHMENT 1
EIGHTH AMENDMENT TO THE TOWN MANAGER EMPLOYMENT AGREEMENT
This Amendment to Town Agreement AGR 15-172 is entered into this 5th day of December, 2023, by and between the Town of Los Gatos, a municipal corporation (“TOWN”), and Laurel Prevetti (“EMPLOYEE”).
RECITALS
WHEREAS, Town and Laurel Prevetti executed an Agreement effective September 2, 2015 to provide Town Manager services to the Town;
WHEREAS, a First Amendment to the Agreement was executed on April 4, 2017 to
amend the employment agreement to award a 4.43% wage increase to the annual base salary, effective on April 4, 2017 and a lump sum performance bonus of $3,000; and WHEREAS, a Second Amendment to the Agreement was executed on January 16, 2018
to amend the employment agreement to award a $8,000 wage increase to the annual base salary,
effective on January 16, 2018; and WHEREAS, a Third Amendment to the Agreement was executed on December 18, 2018, to amend the employment agreement to award a $16,250 wage increase to the annual base salary,
effective on September 2, 2018 and a lump sum performance bonus of $3,300; and WHEREAS, a Fourth Amendment to the Agreement was executed on December 3, 2019 to amend the employment agreement to award a $13,750 wage increase to the annual base salary, effective on September 2, 2019 and a lump sum performance bonus of $5,000; and
WHEREAS, a Fifth Amendment to the Agreement was executed on November 3, 2020 to amend the employment agreement to award a $12,500 wage increase to the annual base salary, effective on September 2, 2020 and a lump sum performance bonus of $5,000; and WHEREAS, a Sixth Amendment to the Agreement was executed on November 16, 2021 to amend the employment agreement to award a $5,250 wage increase to the annual base salary, effective on September 2, 2021; and
WHEREAS, a Seventh Amendment to the Agreement was executed on December 6, 2022
to amend the employment agreement to award a $8,033 wage increase (3%) to the annual base salary, effective on September 2, 2022, and a lump sum pandemic-related bonus of $2,500; and WHEREAS, on the basis of the annual evaluation, the Town Council desires to amend the
agreement to award a $13,789 wage increase (5%) to the annual base salary, retroactive to the
anniversary date of September 2, 2023; and IT IS THEREFORE AGREED by the parties as follows:
Section 2(A) of the Agreement is amended to read as follows: A. Salary.
ATTACHMENT 1
The Town Manager is awarded a $13,789 wage increase for a total annual base salary of $289,572, effective September 2, 2023. All other terms of the original Employment Agreement remain in effect. IN WITNESS WHEREOF, the parties have executed this Amendment to the Town Manager Agreement on the date written above. TOWN OF LOS GATOS
________________________________ Maria Ristow, Mayor
____________________________ Laurel Prevetti , Town Manager ATTEST:
_______________________________ Wendy Wood, Town Clerk APPROVED AS TO FORM:
______________________________ Gabrielle Whelan, Town Attorney
2 of 2 Eighth Amendment to the Town Manager Employment Agreement