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Home My WebLink AboutAgreement_General_08/09/2018_Retirement Amendment Michael Cuozzo RETIREMENT AMENDMENT TO SECOND EMPLOYMENT AGREEMENT BETWEEN MICHAEL R.COUZZO,JR. AND THE VILLAGE OF TEQUESTA,FLORIDA This RETIREMENT AMENDMENT to that certain Second Employment Agreement Between Michael R.Couzzo,Jr.and the Village of Tequesta, Florida,is made and entered into this 9th day of August 2018, at which time action was taken by the Village Council, by and between the Village of Tequesta, Florida,a municipal corporation, hereinafter called the"Village",and Michael R.Couzzo,Jr.,an individual, hereinafter called"Couzzo"and collectively referred to herein as the"Parties", both of whom understand as follows: WHEREAS, the Parties previously, on August 5, 2010, entered into that certain Second Employment Agreement Between Michael R. Couzzo, Jr. and the Village of Tequesta, Florida, which is currently in full force and effect, and which provides for the terms of Couzzo's employment as Village Manager for the Village;and WHEREAS, the terms and conditions of that certain Second Employment Agreement Between Michael R.Couzzo,Jr.and the Village of Tequesta, Florida contemplate that Couzzo will remain employed as Village Manager for the Village through and until December 31,2018;and WHEREAS, by letter dated August 17, 2017, Couzzo has announced his retirement as Village Manager effective December 31, 2018;and WHEREAS,the Village has commenced the process for a search for a successor Village Manager, and has determined that it is in the best interest of the Village that the new Village Manager, once selected,should commence work on or about October 1, 2018 in conjunction with the start of the 2018- 2019 fiscal year;and WHEREAS, the Village also desires to honor the contract terms of Couzzo's employment and compensate him accordingly;and WHEREAS, Couzzo and the Village have agreed to amend that certain Second Employment Agreement Between Michael R. Couzzo,Jr. and the Village of Tequesta, Florida in order to accommodate both an October 1, 2018 start date for the successor Village Manager and also provide for Couzzo's compensation through December 31, 2018 for his retirement as Village Manager;and WHEREAS,that certain Second Employment Agreement Between Michael R. Couzzo,Jr. and the Village of Tequesta,Florida requires that any amendment thereto be memorialized in a written document executed by the Parties;and 1 WHEREAS,this RETIREMENT AMENDMENT memorializes the revisions agreed to by the Parties to provide for the successful retirement of Couzzo as well as the commencement of the employment of his successor on or about October 1, 2018. NOW THEREFORE, in consideration of the mutual covenants herein contained,the Parties hereto agree to amend and conclude that certain Second Employment Agreement Between Michael R. Couzzo, Jr. and the Village of Tequesta, Florida as follows: 1. Couzzo's last day to report to the Village as Village Manager shall be October 1, 2018. After October 1, 2018, Couzzo shall relinquish all responsibility for Village Manager duties to his successor to be appointed and employed by the Village Council. Until such date,that certain Second Employment Agreement Between Michael R. Couzzo,Jr. and the Village of Tequesta, Florida shall remain in full force and effect in all respects as written. It occurred. 2. After October 1,2018,Couzzo shall receive his remaining full annual salarythrough December 31, 2018. The amount of remaining salary shall be calculated pursuant to Section 4.A. of the Second Employment Agreement Between Michael R. Couzzo,Jr. and the Village of Tequesta, Florida. This amount shall be paid to Couzzo in one lump sum on the first pay period following October 1, 2018. 3. Couzzo hereby waives consideration for Performance Recognition Compensation for the 2017-2018 year, and also waives consideration for any further cost of living increase, each as would otherwise be considered pursuant to Section 4.6. of the Second Employment Agreement Between Michael R. Couzzo, Jr. and the Village of Tequesta, Florida, but for Couzzo's waiver. 4. On October 1, 2018, Couzzo will accrue vacation leave pursuant to Section 5. of that certain Second Employment Agreement Between Michael R. Couzzo,Jr. and the Village of Tequesta, Florida. In addition, Couzzo will accrue any other leave pursuant to Village policy. However, while Couzzo is entitled to use all accrued leave available to him, Couzzo hereby agrees to waive payment for any unused and accrued leave to which he might otherwise be entitled to upon retirement but for Couzzo's waiver. S. Couzzo's insurance shall be paid by the Village through December 31, 2018 pursuant to Section 8.of that certain Second Employment Agreement Between Michael R.Couzzo,Jr.and the Village of Tequesta, Florida. 6. The Village shall contribute on Couzzo's behalf, a pro-rated amount equal to twelve percent (12%) of Couzzo's annual base salary through December 31, 2018, into his "457 Plan." This 2 amount shall be paid into the "457 Plan" in one lump sum on the first pay period following October 1, 2018. 7. The Village and Couzzo agree that contributions into the general employee pension plan for Couzzo shall cease after October 1, 2018. Couzzo hereby waives contributions into the general employee pension plan that otherwise would have been made on his behalf after October 1, 2018 through December 31, 2018. 8. Any other compensation specified in that certain Second Employment Agreement Between Michael R. Couzzo, Jr. and the Village of Tequesta, Florida, which is not specified and addressed in this RETIREMENT AMENDMENT is hereby waived by Couzzo. 9. It is agreed by the Parties that the October 1, 2018 last day to report date, coupled with the completion of the other terms and conditions of this RETIREMENT AMENDMENT, shall constitute the successful conclusion of that certain Second Employment Agreement Between Michael R. Couzzo,Jr. and the Village of Tequesta, Florida, and that neither termination nor resignation (as provided for in Section 3 of the Second Employment Agreement Between Michael R. Couzzo,Jr. and the Village of Tequesta, Florida)will be deemed to have occurred, and the Parties agree that at such time neither shall be obliged to the other for any matter whatsoever. 10. Miscellaneous Provisions: a. This RETIREMENT AMENDMENT, as it amends that certain Second Employment Agreement Between Michael R. Couzzo, Jr. and the Village of Tequesta, Florida constitutes the entire understanding between the Parties regarding Couzzo's retirement from the Village, and supersedes any prior agreement or understanding, whether verbal or written,which may have existed between the Parties. Neither this RETIREMENT AMENDMENT nor that certain Second Employment Agreement Between Michael R. Couzzo, Jr. and the Village of Tequesta, Florida may be further modified or amended except in writing and with express approval of both the Village and Couzzo. b. In the event it should become necessary for either party to initiate adversarial proceedings to enforce the terms of this RETIREMENT AMENDMENT, the prevailing party shall be entitled to recover its reasonable attorney's fees incurred in such efforts. Venue for any such proceeding shall be in a court of competent jurisdiction in Palm Beach County, Florida. 3 c. Couzzo acknowledges that he has been afforded the opportunity and encouraged to obtain the representation of legal counsel in connection with the drafting and execution of this RETIREMENT AMENDMENT. As such, no provision of this RETIREMENT AMENDMENT shall be construed in favor of or against either party by virtue of draftsmanship. IN WITNESS WHEREOF,The Village of Tequesta has caused this RETIREMENT AMENDMENT to be signed and executed on its behalf by the Mayor and duly attested by its Village Clerk, and Michael R. Couzzo,Jr. has signed and executed this RETIREMENT AMENDMENT, both in duplicate,the day and year first above written. Village of Te uesta �14ZOWAIWI By: Abi it Bre n, Mayor Michael R. zzo Jr ATTEST: ATTEST: OF By: OF By: a( ► ,c�G�GtP�nr P pFiPp''' •.. Lori McWilliams, MQ-G.• TFQ�%, Lori McWilliams, MMC Village Clerk v'G0�P�'9.9j;G'= Village Clerk , ,N Eq G :N S Eq cn . : I�AORpo �N RATFo. CORPORA ED. D �=y� •. ,,,�oF FLOa��P�� 4