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Retiree Health — For Executive Management employees hired before January 1, 2013 who have five (5) years of service, or hired on or after January 1, 2013 who have ten (10) years of service, and retire under the City's retirement plan within one hundred twenty (120) days of separation from City employment, the retirement stipend paid by the City shall be as follows: Retiree Health Tier 1: For retirees hired by the City before September 1, 2018, the City's stipend shall be the amount of the premium for single party coverage in the plan selected by the retiree, not to exceed the amount of the CalPERS Bay Area Kaiser Premium for family coverage. The City will pay the PEMHCA minimum employer contribution to CalPERS and reimburse the retiree for the remaining difference in premium amount. For Retiree Health Tier 1 retirees hired by the City before September 1, 2018, who reside in other higher priced regions, the City's stipend shall be the amount of the premium for single party coverage in the plan selected by the retiree, not to exceed the amount of the CalPERS Bay Area Kaiser Premium for family coverage based on the Bay Area Regional pricing schedule. The retiree will be required to pay the additional premium amount that is in excess of the Bay Area rates. The City will pay the PEMHCA minimum employer contribution to CalPERS and reimburse the retiree for the remaining difference in the premium amount. Retiree Health Tier 2: For retirees hired by the City on or after September 1, 2018, the City's stipend shall not exceed ninety percent (90%) of the CalPERS Bay Area Kaiser Premium for single party coverage. The City will pay the PEMHCA minimum employer contribution to CalPERS and reimburse the retiree for the remaining difference in the premium amount. For Retiree Health Tier 2 retirees hired by the City on or after September 1, 2018, who reside in other higher priced regions, the City's stipend shall not exceed ninety percent (90%) of the CalPERS Bay Area Kaiser Premium for single party coverage. The retiree will be required to pay the additional premium amount that is in excess of the Bay Area rates. The City will pay the PEMHCA minimum employer contribution to CalPERS and reimburse the retiree for the remaining difference in the premium amount. For Retiree Health Tier 2 employees who separate employment via a service retirement during the term of this MOU, this benefit shall continue until the retiree becomes eligible for Medicare. Once the retiree becomes eligible for Medicare, the City's stipend shall not exceed the single party cost of the "Kaiser Permanente SR Advantage Plan." Should that plan be abolished, the City's stipend will not exceed the single party cost of the next most comparable plan. The City will pay the PEMHCA minimum employer contribution to CalPERS and reimburse the retiree for the remaining difference in premium amount. ATTY/RESO.0043/CC RESO APPROVING AMENDMENT TO EMPLOYMENT AGREEMENT FOR CITY MANAGER - EXHIBIT A REV: 06-03-2020 EI 11