07 Attachment 1 - Amendment to the Town Manager Employment AgreementFIFTH AMENDMENT TO THE TOWN MANAGER EMPLOYMENT
AGREEMENT
This Amendment to Town Agreement AGR 15-172 is entered into this 3rd day of November, 2020,
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, on the basis of the annual evaluation, the Town Council desires 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
IT IS THEREFORE AGREED by the parties as follows:
Section 2 of the Agreement is amended to read as follows:
A. Salary.
The Town Manager is awarded a $12,500 wage increase for a total annual
base salary of $262,500, effective September 2, 2020.
(1) On the basis of an annual performance evaluation covering the fifth
year of employment from September 2019 to September 2020, the
Town Manager is awarded a one-time lump sum payment of $5,000.
ATTACHMENT 1
IN WITNESS WHEREOF, the parties have executed this Amendment to the Town
Manager Agreement on the date written above.
TOWN OF LOS GATOS
________________________________
Marcia Jensen, Mayor
____________________________
Laurel Prevetti , Town Manager
ATTEST:
_______________________________
Shelley Neis, Town Clerk
APPROVED AS TO FORM:
______________________________
Robert W. Schultz, Town Attorney
2 of 2 Fifth Amendment to the Town Manager Employment Agreement