Fiscal Note
Funds are available in the 2007 Water Utility budget to cover the costs associated with this settlement agreement. These costs are fully payable from Water Utility resources and there is no impact on the tax levy or State Expenditure Restraint Program eligibility.
Title
Authorizing the Mayor and City Clerk to enter into a Settlement Agreement with David Denig-Chakroff and authorizing payments.
Body
WHEREAS, David Denig-Chakroff ("Denig-Chakroff") is employed by the City of Madison ("City") as General Manager of the City's Water Utility pursuant to an Employment Agreement dated July 10, 2006; and
WHEREAS, the City and Denig-Chakroff desire to terminate the Employment Agreement and Denig-Chakroff's employment with the City; and
WHEREAS, the City and Denig-Chakroff desire to mutually release each other from any and all claims related to or arising out of Denig-Chakroff's employment and the termination of his employment with the City; and
WHEREAS, neither party admits any fault, breach or misconduct as the basis for the termination of the Employment Contract;
NOW THEREFORE, BE IT RESOLVED, that the Common Council of the City of Madison authorizes the Mayor and City Clerk to enter into a Settlement Agreement with David Denig-Chakroff to terminate his employment with the City of Madison, and to terminate his Employment Agreement with the City of Madison effective September 22, 2007; and
BE IT FURTHER RESOLVED, that the City of Madison will pay, as part of the Settlement Agreement, the sum of $130,596.48 to Denig-Chakroff, representing amounts due him under the contract and amounts that would become due over a succeeding five (5) month period; and
BE IT FURTHER RESOLVED, that the City and Denig-Chakroff will mutually release each other from any claims related to or arising out of Denig-Chakroff's employment and termination of employment with the City of Madison; and
BE IT FINALLY RESOLVED, that the Settlement Agreement shall ...
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