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BK:00021 PG:0073 <br />STATE OF NORTH CAROLINA <br />SETTLEMENT AGREEMENT <br />COUNTY OF LEE <br />This Settlement Agreement is made and entered into this the .,~,7z24 day of <br />July, 2006, by and between the County of Lee and Clyde A. Kepley III. <br />WITNESSETH <br />WHEREAS, Clyde A. Kepley III was appointed on October 27, 2003, by the Board of <br />Commissioners of Lee County as Tax Administrator for Lee County, which is the title of <br />the combined office of Tax Collector and County Assessor, for a term of four years <br />beginning on December 1, 2003; and <br />WHEREAS, Clyde, A. Kepley III duly qualified and acted in that capacity from and after <br />that date: and <br />WHEREAS, the Board of Commissioners delegated to the County Manager the <br />supervision of the position of Tax Administrator; and <br />WHEREAS, philosophical differences arose about administrative duties between the <br />County Manager and the Tax Administrator; and <br />WHEREAS, the parties desire to compromise and settle any and all disputes arising out <br />of or in any way connected with the matters and things described above; <br />NOW THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: <br />1. Clyde A. Kepley III does not admit to any wrong doing in any way as Tax <br />Administrator for Lee County and has voluntarily decided to resign his office as <br />Tax Administrator. <br />2. Lee County has agreed to pay Clyde A. Kepley III the sum of Eighteen Thousand <br />Eight Hundred Fifty Four and 351100 Dollars ($18,854.35) for a release of any <br />and all obligations and liabilities whatsoever under and on account of contractual <br />term of office to which he was appointed, and the settlement of the dispute set <br />out above. <br />3. Upon resignation Clyde A. Kepley shall be entitled to payment for up to 240 <br />hours of accrued vacation leave. <br />