Mount Prospect village manager gets new five-year contract
Mount Prospect trustees Tuesday approved a new five-year contract for Village Manager Michael Cassady, ending its previous practice of employing the town's top administrator on a year-to-year basis.
The agreement does not immediately affect Cassady's salary, which is $214,987 this year. Any potential pay hike would likely be approved by the village board in January.
Under the deal, Cassady's employment with Mount Prospect officially ends Dec. 31, 2023, unless he and the board agree to an extension. Future adjustments to his salary and bonuses may be approved by the board without amending the contract.
In addition, if his employment is terminated without cause, the village must give him six months' notice or severance pay amounting to six months' salary, as well as a year of health insurance benefits.
"It is still employment at will and we retain the ability as a board to say 'goodbye' either with or without cause," Mayor Arlene Juracek said.
Juracek said the five-year approach allows the village board to re-examine the terms of the manager's employment when the deal nears expiration.
"It's actually a good tool for us to take a fresh look," she said.
"At the end of the five years, we can sit down and negotiate everything all over again.," Trustee William Grossi added.
Cassady, who's been village manager since 2015, was not at Tuesday's meeting when the deal was approved but issued a statement through the village.
"I am grateful for the support of the village board and our leadership team," he said. "We have created a very talented team of village employees that buy in to the philosophy of exceptional customer service and high performance. This focus creates value and operational improvements that benefit our community."