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GENERAL MANAGER Jim Friedl DATE: TO: FROM -0 SUBJECT: Conejo Recreation & Park District December 7, 2023 Board of Directors Melissa Smith, Administrator, Management Services BOARD OF DIRECTORS Chuck Huffer, Chair George M. Lange, Vice Chair Nellie Cusworth, Director Doug Nickles, Director Marissa Buss, Director GENERAL MANAGER EMERITUS Tex Ward Proposed Amendment to and Fully Restated EmploymeM „ gvea ent with the District's General Manager RECOMIIENDATION Approve Amendment to and Fully Restated Employment Agreement Between Conejo Recreation and Parr District and General Manager adjusting annual base salary by 10% from $235,347.68 to $258,882.44, increasing the annual vision benefit to $300, clarifying the amount of the District's deferred compensation contribution, and allowing the General Manager to allocate the contribution to either an Internal Revenue Code Section 457 or 401(a) deferred compensation plan. BACKGROUND On March 5, 2020, the Board of Directors adopted a fully restated employment agreement with the General Manager to clarify various items. On December 16, 2021, the Board of Directors approved Amendment 4 adjusting the annual base salary by 5%. The attached proposed Amendment to and Fully Restated Employment Agreement, dated December 7, 2023, adjusts the General Manager's annul salary by 10% effective with the pay period beginning December 16, 2023, increases vision benefits from $200 to $300 annually and clarifies language regarding the District's contribution to the General Managers' deferred compensation plan. This is comparabo e to the 6%/4% adjustments and $300 vision benefit provided to other ConejoRPD empo oyees for FY 2023/24 and 2024/25 assuming no further adjustments are made to GM compensation prior to July, 2025. This action changes the General Manager's annual base salary to $258,882. Additionally, the proposed agreement sets the Districts contribution for deferred compensation at 33% of the Internal Revenue Code Section 457 annual contribution limit with a minimum amount of $7,680. For example, the 2024 Internal Revenue Code Section 457 annual normal contribution limit is $23,000. 33% of the limit would be $7,590. Because this amount is less than the fixed amount of $7,680, the District's contribution to the General Manager's deferred compensation will be $7,680. The agreement further ADMINISTRATIVE OFFICES 403 West Hillcrest Drive, Thousand Oaks, CA 91360-4223 805-495-6471 1 Fax: 805-497-3199 1 parks@crpd.org I www.crpd.org