HomeMy WebLinkAboutContract 27170�liY S�C�iE%4�Y , ; �
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1Vlanagement Performance Tncentive Pay Agreement
BE �T HEREBY KN�WN:
The following agreeniant is entered inio between t�e City of Fort Worth d/b/a "Golf
Divisian" and Mr. Ira Meacham, in his capacity as "Golf Professional" at Z. Boaz Golf
Course.
The �urpose of this agreement is to set fortIi t�ie tertns and conditions by which the Golf
Professional at th� above mentioned galf course may receive compensation in the form of
a rnanagement periarmance iz�cen�ive pay in addition to the Golf ProfessionaPs base
salary. The management incentive pay sl�all corne froin funds received from the food and
bevera�e sales at tlle above meniioned golf course.
The Galf Pxofessional's per�armance shall b� evaluated annually each �"iscal year. On a
performance evaluation of Ievel � or higher, tk�e xx�anager s�all be entitled fio receive, in
addition io his eurreni base saiary, the management incentive pay. On a performance
evaluation of level3 or lower, the Golf Professional shall not receive any rnanagernent
incentive pay. The nlanagement incentive pay shall be calculated based on the net profit
from sales of food and be�erage only. The amouni of incentive pay shall equal ten
percent (1 D%) of tke net profit from up to $100,000 oi gross sales, and then fifteen
perceni (15%) of tl�e net prafit from gross sales in excess $I00,000 during the period
coinciding wiih the periad of ewaluation.
�ubje�ct to the conditions set forth herein, the Galf Division shall pay tlle Golf
Professional once annuaIly, an anlount equal to ten percent {10%) of the annual net profit
up to $100,Qa0 aigross food and beverage sales, and fifteen percent (1S%) af the annual
net profit from gross food and beverage sales in exce�s of $100,000.
"Gross profit" s1�aI1 be defined as grass sales less the cast of goods sald, The gross sales
figure shall be calculated as follows:
"Gross sales" shall inaan the sum total of gross sales in the golf shop's point of saie
system during tl�e evaluation period, less refunds, voided sales, sales tax, returned checks
and unpaid accounts. Net profii sha11 he defined as grass profit less 20% adminzstration
costs. T11e Director of Parlcs and Communiiy Services or lus designee, shall determine
the net prafit figure in all cases, including a case of data corruption ar loss, and that
figure shall be considered final once decided.
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This agreement may be canceled by the City upan providing thirty (30) days natice to
that efFect to the Golf Professional. This agreement shall also be considered to be
coz�temporaneously canceled if the Golf Professional otherwise ceases io be employ�d by
the City of Fort Wortll due to ernpioyment termination or z�esignation. No incentive pay
will be made if ihe Golf Professianal daes not cornplete the full fiscal year. The Golf
Prafessional nlust be employed as of Oetober 1 in order to receive incentive pay for the
previous year.
Tbis agreement shall be in effect beginning on July 28, 2001, and continue i� effect eac�
year �hereaf�er, unless oiherwise canceled or modified by agreement or as set forth above.
This contract shall be canstrued according to the laws of tihe Sfate of Texas and venue of
any suit or cause of ac#ion. under this contract shall lie exclusively in Tarrant County,
Texas.
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This contract is executed this �yd"ay of �.�. �J�, 2041 in two caunterparts, each
of which sha11 be deen�ed to be an original.
C�NTRACTOR'S NAME: CITY OF FORT WORTH:
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Ira Meachan�, Golf Professional
APPROVAL RECOMMENDED:
Joe Pa a 7r., ssistant City Manager
:
ATTEST:
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Ric ard Zavala, Director
Parks an� Community Services Department
APPROVED AS TO FQRM AND
LEGALITY:
��� ,�.,��-'`'G�-"
� Assistant �t�y Attorney
DATE:
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�' Gloria earson
City 5ecretary
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