Laserfiche WebLink
RESOLUTION APPROVING CONTINUATION OF and AMENDING <br />• CITY MANAGER'S EMPLOYMENT CONTRACT <br />BE IT RESOLVED by the Council of the City of Charlottesville, <br />Virginia, that the Employment Agreement between the City Council <br />and the City Manager, dated November 1, 1995, approved by Council <br />resolution on or about December 19, 1995 (the "Contract"), is <br />hereby amended effective with the fiscal year beginning July 1, <br />1996 ("the Current Fiscal Year") as set forth more fully below: <br />A. Salary - Section 6 of said Contract related to Salary is <br />amended so that the City Manager's base salary shall be increased <br />by 3°s effective at the beginning of the Current Fiscal Year. On <br />July 1, 1996, the City Manager shall also receive a "one-time" <br />bonus equal to 20 of his 1995-96 salary. <br />• B. Retirement - Section 13 of said Contract entitled <br />"Retirement Benefits" is hereby amended to read in its entirety as <br />follows: <br />SECTION 13. RETIREMENT BENEFITS. <br />Effective July 1, 1996, the City Manager shall <br />become an active participant in the City's Supplemental <br />Retirement or Pension Plan ("the City Retirement Plan" or <br />"Plan"). As of that date he shall start with 14 years of <br />creditable service in the City Retirement Plan and will <br />begin accruing additional years of creditable service for <br />each subsequent year of employment with the City. As <br />such, the City Manager's defined benefits under the Plan <br />shall be the same as those benefits owed to any other <br />similarly situated employee within said Plan. <br />In addition to the foregoing, the City shall also <br />make an annual contribution on behalf of the City Manager <br />("Manager") to the ICMA-RC retirement plan in the amount <br />of $1,200. Any further contribution to ICMA-RC beyond <br />that amount shall be the sole responsibility of the City <br />Manager. <br />