Longevity Incentive. The School District shall make an annual payment to a tax shelter for the Assistant Superintendent under the following schedule so long as the Assistant Superintendent remains employed as of the date of the contribution. The Assistant Superintendent shall be eligible for a $5,000.00 contribution on July 1, 2022; the Assistant Superintendent shall be eligible for a $5,000.00 contribution on July 1, 2023; the Assistant Superintendent shall be eligible for a $10,000 contribution on July 1, 2024; the Assistant Superintendent shall be eligible for a $10,000 contribution on July 1, 2025 and the Assistant Superintendent shall be eligible for a $20,000 contribution on June 30, 2026. For purposes of this Agreement, the longevity incentive shall not be considered part of the Assistant Superintendent’s annual salary.
Appears in 2 contracts
Sources: Employment Agreement, Employment Agreement