93-242 t , �
Resolution No. 93-242
RESOLUTION
AUTHORIZING EXECUTION OF AN EMPLOYMENT SEVERANCE AGREEMENT
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that George VanDeVoorde, Mayor, and Dolonna Mecum,
City Clerk, be and are hereby authorized and directed to
execute an Employment Severance Agreement on behalf of the
City of Elgin with Larry L. Rice, a copy of which is attached
hereto and made a part hereof by reference.
s/ George VanDeVoorde
George VanDeVoorde, Mayor
Presented: August 25, 1993
Adopted: August 25, 1993
Vote: Yeas 7 Nays 0
Recorded:
Attest:
s/ Dolonna Mecum
Dolonna Mecum, City Clerk
EMPLOYMENT SEVERANCE AGREEMENT
Agreement made August 25, 1993, between CITY OF
ELGIN, a municipal corporation, "City" , and LARRY L. RICE,
"Rice" .
Background of Agreement
Rice is employed by City as City Manager pursuant to
a contract of employment. Rice and City mutually agree to
terminate Rice's employment upon the terms and conditions
stated below.
Terms and Conditions of Agreement
1 . Rice shall resign as City Manager effective at
5:00 p.m. on October 1, 1993 .
2 . Rice shall receive from City the sum of
$109,088 .00 in total settlement of all claims for severance
benefits including salary payments, accrued vacation leave,
sick leave, and other miscellaneous severance benefits; said
compensation shall be paid as directed by Rice in writing.
3 . City shall deduct from the amount stated federal
and state withholding taxes, employee contributions to the
Illinois Municipal Retirement Fund and contributions as
directed by Rice to I .C.M.A. 457 Deferred Compensation Plan
and I .C.M.A. 401 Deferred Compensation Plan. City shall pay,
based on the amount stated, employer contributions to the
Illinois Municipal Retirement Fund and all applicable federal
and state employer taxes .
4 . City shall continue in full force and effect
such medical insurance and life insurance otherwise included
in City's 1993 management benefit program for Group A
employees on behalf of Rice through July 31, 1994 .
5. Rice hereby releases City, its officers and
employees, from all obligations under Rice's employment
agreement and from any and all claims arising out of Rice' s
employment by City.
Dated this r.�I i64,day of lk c 1993 .
CITY OF ELGIN, a municipal
corporation
By
George V nDeVoorde, Mayor
Attest:
9P�1/4 ILI/I;�-C,,V- -
City Clerk
V
La y L.
El TELEPHONE 708/931.6100
inFAX 708/931-5610
FOR HEARING IMPAIRED
TDD 708/931.5616
CITY OF ELGIN 150 DEXTER COURT ELGIN, ILLINOIS 60120-5555
August 25, 1993
TO: Mayor and Members of the City Council
FROM: Larry L. Rice, City Manager
SUBJECT: Retirement
After a busy and productive four years with the City of
Elgin, I have reached eligibility for retirement under the
provisions of the Illinois Municipal Retirement Fund. Conse-
quently, I have decided to resign as Elgin City Manager effec-
tive October 1, 1993.
A great deal has been accomplished by the City Council
and staff during the past few years, and the Council is to be
congratulated for its hard work and long hours on behalf of
the community and its citizens. I want to express my thanks
to you as I leave with the knowledge that Elgin will continue
to be "The City to Watch" .
Best wishes .
Sincerely
r r ce
Ci Mana er
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