After weeks of speculation, lawmakers in Phillipsburg finally settled the terms of a contract to employ Mayor Randy Piazza Jr. on Wednesday. At its regular meeting, Town Council voted 3-2 to set the mayor’s annual salary at $50,000 – a $15,000 reduction from last year’s proposed amount – and to forfeit some of his benefits, including his medical insurance coverage. The salary reduction will see Piazza paid less than his predecessor, Todd Tersigni.