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1. In addition to the City Administrator's <br />salary now in effect or which may hereafter be established <br />from time to time as his stated salary, Whittaker shall be <br />compensated in an additional amount equal to the employer <br />contribution which would be required by Minnesota Statutes, <br />Section 353.27, Subdivision 3. and 3a, if he were a member <br />of the Public Employees Retirement Association subject, <br />however, to the provisions of the following paragraph of <br />this resolution. <br />2. Such additional compensation shall be paid <br />only if and during the time that there is an agreement <br />between City and Whittaker wherein it is agreed in writing <br />that the additional compensation is to be deferred and <br />shall be contributed on behalf of Whittaker to a deferred <br />compensation program which meets the requirements of Section <br />457 of the Internal Revenue Code of 1954, as amended through <br />December 31, 1980. <br />3. The Mayor, acting for and in behalf of the <br />City, is hereby authorized and directed to enter into an <br />agreement of a type described in the foregoing paragraph no. <br />2 with Whittaker. Upon the execution of such agreement, <br />the Mayor, City Administrator and other appropriate officials <br />of the City are authorized to take the actions necessary to <br />give effect to the provisions of such agreement. <br />Adopted, this the 16th. day of June, 1981, by the City <br />Council, City of Lake E mo. <br />Signed: <br />.Q --Q. t'd, ) <br />Maynay L. Eder, Mayor <br />ATTEST: <br />&a,LLq M-u � Ul�t..I."e--,_-- <br />Laurence E. Whittaker <br />City Administrator <br />