CONTRACT ADDENDUM SUPERINTENDENT OF SCHOOLS FRINGE BENEFITS PACKAGE

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1 SUPERINTENDENT OF SCHOOLS FRINGE BENEFITS PACKAGE This amendment to the addendum to the Superintendent of Schools Basic Contract is by and between the Board of School Trustees of the River Forest Community School Corporation and Dr. Steven Disney, Jr.. that was approved on July 25, 2014 and is hereby amended on July 13, Term. Initial : Term of Contract: Term of Contract- July 25, 2014 to June 30, Current First Amendment: Term of Contract- July 1, 2015 to June 30, Amendment: Term of Contract- July 1, 2015 to June 30, The term of this contract shall be automatically extended by one (1) year each year unless the Superintendent is notified in writing to the contrary by December 15 of each calendar year. The parties agree that the statute providing for extension specifically shall not apply. The parties agree that the Superintendent shall provide services two hundred sixty (260) days per contract year. COMPENSATION The Board shall pay the Superintendent an annual salary of $119,686 effective immediately and retroactively. The base contract shall be $119,686 and in accordance with other contracted items. The annual salary rate shall be paid to the Superintendent in installments in accordance with other 12 month employees. Each year the annual base salary of the Superintendent shall increase in addition to any other increase in compensation in an amount equal to the increase in the annual cost of the family health insurance plan. The parties may mutually agree to (or the Board may unilaterally) increase the salary of the Superintendent during the term of this contract. Any adjustment in salary made during the life of this contract shall be in the form of amendment, and shall not alter the other terms of this contract. Such salary shall be reviewed and recommendation for change each year in January. PAID VACATIONS The Superintendent shall be entitled to twenty-five (25) days with pay each calendar year as vacation time to be taken during the period of July 1 through June 30 of each year. The superintendent may carry up to ten days of unused vacation days and any remaining vacation days shall be paid per diem to the superintendent. ABSENCE FROM WORK/ILLNESS LEAVE The Superintendent shall be entitled to be absent from work without loss of compensation on account of illness or quarantine or family or personal business for a total of 15 days each school

2 Page 2 year to be used as 12 sick and 3 personal days plus the transfer of his remaining sick leave accumulation carried over from his former employer. If the Superintendent is absent less than the prescribed number of days, the remaining days are accumulative up to 260 days. BEREAVEMENT LEAVE A period extending for not more than seven (7) consecutive calendar days shall be allowed immediately after the death of spouse, child, parent, grandparent, grandchild, brother, sister, father-in-law, mother-in-law, son-in-law, daughter-in-law, aunt, uncle, niece, nephew, brotherin-law, sister-in-law, grandparent of spouse, or a person living in the same home as part of the family. These days will not be deducted from the accumulated sick leave. Any other relationship must be approved by the Board of School Trustees. HEALTH INSURANCE The Board shall provide, upon payment, 1) the annual cost of the family plan offered to other administrative employees the package of the health and medical plan. The Superintendent will be able to participate in the preferred vision and dental insurance plan at a cost of $1.00 for either the single or family plan. 2) or in lieu of participation in the family medical plan, the Superintendent may direct that the amount that the corporation would have paid of the coverage, be paid to the superintendent or to the Superintendent s 457/401A/403B Plan or annuity of the Superintendent s choice pursuant to a salary reduction agreement completed by the Superintendent. If the Superintendent elects early retirement according to the Rule of 85: (Age + Service = 85; minimum age of 55) or at age 60 or older with the minimum of ten (10) years of credible service in the River Forest Community School Corporation, he shall receive from the Employer, without cost to the retired Superintendent, full coverage in the single group health and dental plan. Notice of intent to exercise this option shall be given prior to the end of the school year. This coverage shall continue to be provided by the Employer until: 1. The retired Superintendent accepts other employment where insurance is provided; 2. The retired Superintendent reaches his retirement age as defined by Medicare; or 3. The retired Superintendent dies. The retiring Superintendent who receives benefits under this provision may continue the family coverage by paying the difference between the family premium and the single premium.

3 Page 3 TERM LIFE INSURANCE WITH ACCIDENTAL DEATH & DISMEMBERMENT The Board of School Trustees will provide term life insurance with accidental death at a level twice his annual contracted salary to the nearest thousand dollars. The Board of School Trustees will also provide $5,000 term life insurance for the spouse and $3,000 term life insurance for each dependent child. LONG TERM DISABILITY A disability insurance program shall be provided for the Superintendent by the Board of School Trustees. The Board of School Trustees will pay the total cost of the program. WORKMEN S COMPENSATION If the Superintendent is injured in the line of duty, he shall receive such compensation and expenses as are prescribed by the Workmen s Compensation Law of the State of Indiana. The Board of School Trustees will pay the difference between Workmen s Compensation and regular salary pro-rated on their daily rate and this will not be deducted from accumulated sick leave. This benefit will be limited to the qualifying period of two (2) consecutive months of disability benefits as stipulated in the disability insurance program. USE OF CORPORATE VEHICLES The Superintendent has the use of the corporation car for professional and personal use. The Superintendent is allowed to fill his corporation vehicle with gasoline every two weeks and when extended trips are taken for business related reasons. In the future, the Board may determine that a new purchase of a corporation vehicle might not be in congruence with the capital expenditure financial plan, thus the board may choose to pay the superintendent an annual vehicle allowance stipend equal to 5 % current contract (i.e. $500 per month) of the superintendent s base salary to utilize a vehicle owned by the superintendent, to meet the obligations of the contract. PROFESSIONAL DUES The Superintendent will receive paid membership dues of the Superintendent for IUSA, ISBA, IAPSS, AASA, IASBO, NSBA, and AASA. Each year.

4 Page 4 LEGAL COUNSEL The Board agreed to provide the Superintendent with legal counsel selected and paid for by the Board and to defend and indemnify and hold the Superintendent harmless for all claims, demands and judgments arising out of the performance of duties within the Superintendent s scope of employment. CELL PHONE Steven Disney, Jr. will have the use of a cell phone for school related and personal use up to a designated maximum number of minutes provided by the school corporation. LOYALTY STIPEND Upon signing the fifth consecutive contract as an administrator with the River Forest Community Schools, Steven Disney, Jr. will be entitled to a one-time loyalty stipend adjustment in the amount of one and one half times the increment in column MS RETIREMENT SAVINGS PLAN River Forest Community School Corporation shall contribute to a 401(a) account an amount equal to 2% of the Superintendent s gross salary. Such deposits will be made on a monthly basis and accrue in the Superintendent s account. If the Superintendent dies during his first three years of service in the River Forest Community School Corporation, his 401(a) account shall become the property of his estate. If, for any other reason, the Superintendent leaves prior to completing three (3) years of service to the River Forest Community School Corporation, the amounts in the account shall be forfeited into a forfeiture account to be administered by school corporation s current provider for 401(a) and 403(b) accounts. Upon completion of the third year of employment, all assets of his 401(a) account become vested to the Superintendent. In addition to the 2% contribution, the Board will make an additional contribution of Three percent (3%) of the superintendents gross salary to our current 403(b) provider. The school corporation will pay 3% toward retirement in addition to salary. According to the retirement law the minimum age at which an administrator may retire is fifty (50) provided he/she has ten years of creditable service in the River Forest Community School Corporation; or the member s age in years plus the member s years of service is at least eighty-five (85) and the member is at least fifty-five (55) years of age. The Superintendent shall be granted all other benefits as provided in the Master Contract with teachers by the board.

5 Page 5 In witness whereof, Dr. Steven Disney, Jr. and the Board, by its President and Secretary, have executed this agreement as of the 24th day of July, Board of School Trustees of the River Forest Community School Corporation By: _ H. Marshall Gilliana II, President By: Dr. Steven Disney, Jr. Michelle Martin, Secretary In witness whereof, Dr. Steven Disney, Jr. and the Board, by its President and Secretary, have executed this amendment to the original addendum agreement entered into on the 24 th day of July, 2014 and have executed this amendment to the addendum as of the 13th day of June, Board of School Trustees of the River Forest Community School Corporation By: _ H. Marshall Gilliana II, President By: Dr. Steven Disney, Jr. Michelle Martin, Secretary

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