LOWELL -- Superintendent of Schools Jean Franco informed the School Committee Monday morning she has accepted its offer of a new two-year deal, sources told The Sun.
Franco's new deal will go into effect July 1.
She will be paid an annual salary of no less than $175,992.50 with a one percent cost of living increase.
Franco will also be eligible for a merit raise each year based on the School Committee's evaluation of her.
If she achieves a performance rating of "proficient", Franco will receive a 2 percent increase.
Franco will receive a three percent increase if she receives a performance rating of "exemplary."
The School Committee has yet to publicly vote on the new pact, but is expected to at its sole meeting this month on June 18.
Franco's current three-year deal was set to expire at the end of the month.
Franco was selected as superintendent in April 2011 to replace the outgoing Chris Scott. She began as superintendent in July 2011. Her starting salary as superintendent was $170,000.
Franco came to Lowell in 1996 as a Spanish bilingual facilitator, a role she continued in until being named assistant superintendent for Student Support Services in 2002.
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