The South-Western City Schools’ Board of Education Jan. 6 approved a five-year contract extension for Superintendent Bill Wise that will begin Aug. 1, 2021.

Wise will receive a 2.4% pay increase for each year of the new five-year contract, which will run through July 31, 2026. His current salary is $206,566.

Wise’s current five-year contract expires July 31, 2021.

The new contract will increase the amount of unpaid vacation Wise receives from 30 to 35 working days. He will be employed for 215 work days per year instead of the current 220 days.

Wise will be eligible to receive performance pay equal to 7% of his current salary each year of the new contract.

The performance pay would be based on the completion of the board’s annual evaluation of Wise and provided if the evaluation reflects an above-average composite rating.

The board will also make an annual contribution of 7% of his annual salary to a board-approved, tax-sheltered annuity of Wise's choice each January for the duration of the contract.

Other components of the contract remain the same.