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4.2 No Severance Pay if Termination for Cause or Initiated by Employee. As <br />provided in Subdivision 3.2(a), if Employee is terminated for cause, then the City shall have no <br />obligation to pay the severance provided for in Section 4.1 above. As provided in Section 3.1, <br />if Employee initiates termination of this Agreement, then the City shall have no obligation to <br />pay the severance provided for in Section 4.1 above. <br />4.3 Sole Rights. The severance rights provided in this Section 4 shall constitute the <br />sole and only entitlement of Employee with respect to severance pay in the event of the <br />termination, other than for cause or by expiration of this Agreement. Employee expressly waives <br />any and all other rights with respect to severance pay except as provided herein. <br />5. Performance Evaluations <br />5.1. Purpose. The performance review and evaluation process set forth herein is <br />intended to provide review and feedback to Employee so as to facilitate the effective management <br />of the City. Nothing herein shall be deemed to alter or change the employment status of Employee <br />as City Manager (as set forth in Section 1.6 above), nor shall this Section 5 be construed as <br />requiring "cause" to terminate this Agreement, or the services of Employee hereunder. <br />5.2. Annual Evaluation. The City Council shall endeavor to conduct a formal or <br />informal review and evaluate the performance of Employee on an annual basis within thirty (30) <br />days before the anniversary date of the Effective Date of this Agreement in each year during the <br />term hereof. Such performance review and evaluation may be conducted concurrently with an <br />annual base salary review provided for in Section 2.2 hereof, and in accordance with the purpose <br />noted in Section 5.1 above. <br />5.3. Establishment of Goals. The City Council will establish performance objectives <br />and goals for Employee in connection with the initial evaluation, and each annual evaluation, of <br />Employee pursuant to this Section 5. Such objectives and goals shall be reasonably attainable <br />within the time frame established by the City Council and within the City's annual budget. <br />6. Benefits and Other Compensation <br />6.1 Professional Development. The City recognizes its obligation to the professional <br />development of the City Manager and agrees Employee shall be given adequate opportunities to <br />develop and maintain skills and abilities as the City Manager. Employee is expected and <br />encouraged to and does agree to participate in professional organizations and to attend local and <br />regional meetings and conferences related to matters of interest to the City consistent with the time <br />required for such attendance in relationship to Employee's other responsibilities as determined by <br />the City Council. The City Council hereby agrees to budget an amount, to be determined in the <br />exercise of its sole discretion, to pay the cost, travel and subsistence expense of Employee for <br />professional and/or official travel, meetings, and occasions adequate to continue professional <br />development of Employee and to adequately pursue necessary official functions for the City. <br />Employee shall be responsible for maintaining any professional certifications recognized as <br />necessary or desirable in the performance of the duties hereunder. The City agrees to pay the <br />annual professional dues and subscriptions necessary for full participation in national, regional, <br />state, or local associations and organizations necessary and desirable for the best interests of the <br />6 <br />