FROM: Stacey Barnier, Director of HR and Risk Management
SUBJECT: Determine Merit Bonus Payment Amount for Chief Executive Officer
RECOMMENDATION:
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Determine whether to award a merit bonus payment to the Chief Executive Officer, up to ten percent (10%) of her annual base salary.
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BACKGROUND:
If the new Chief Executive Officer’s Employment Agreement is approved in the prior action item on this Board’s July 11, 2024 agenda, she is eligible for a merit bonus payment of up to ten percent (10%) of her base salary based upon performance, achievement of goals, and financial condition of SBCERA, at the Board’s discretion.
The confidential personnel components of the Chief Executive Officer’s annual review were discussed by the Board in closed session on June 6, 2024, and with the Executive Committee at its meeting on June 20, 2024.
The Board should determine whether to award a merit bonus payment to the Chief Executive Officer, and if so, in what amount.
BUDGET IMPACT:
Costs for this item are included in the current year administrative budget.
STRATEGIC PLANNING GOAL/OBJECTIVE:
Quality Employer and Workplace
STAFF CONTACT:
Stacey Barnier
ATTACHMENTS:
None.