FORMER FINANCE MANAGER PAUL WOOD’S SEVERANCE PAY: $65,922.00

ABSTRACT: Former Finance Manager Paul Wood’s EMPLOYMENT AGREEMENT between the CITY OF CARMEL-BY-THE-SEA and William Paul Wood, dated November 16, 2015 states, in part, as follows: SEVERANCE PAY A. Except as provided in paragraph 5.B. of this Agreement, if EMPLOYEE is terminated by the CITY ADMINISTRATOR while still willing and able to perform the duties of Police Commander [sic], CITY agrees to pay EMPLOYEE a cash payment equal to (6) months of the then current, aggregate salary. Said cash payments may be paid, at the option of the EMPLOYEE in: 1) lump sum upon date of termination; 2) lump sum on January 1 of the calendar year following termination; or 3) four equal monthly installments. Such payment shall release the CITY from any further obligations under this Agreement. SALARY A.The CITY agrees to pay EMPLOYEE William Paul Wood, $131,676 in salary per annum for his/her services, payable in installments at the same time as other employees of the CITY are paid, and subject to customary withholding.

Paul Wood’s SEVERANCE PAY totaled $65,922.00, according to the City’s Paul Wood’s Earnings document, and SALARY - MANAGEMENT Rate Distribution 63.3865, or $131,844.00/annum, 

per public records act request. Mr. Wood’s EMPLOYMENT AGREEMENT and Earnings For Period 10/01/16 - 02/28/17 document copies are embedded.

Employment Agreement Wood_Redacted by L. A. Paterson on Scribd

PAUL WOOD
EMPLOYMENT AGREEMENT
City of Carmel-by-the-Sea
FINANCE MANGER
November 16, 2015

PWoodEarnings From 10012016-022817 by L. A. Paterson on Scribd

PAUL WOOD
EARNINGS
For Period 10/01/16 - 02/28/17