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TO: |
Board of Trustees |
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FROM: |
Kim Shanklin, Chief People Officer |
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PRESENTER(S): |
Kim Shanklin, Chief People Officer |
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TITLE:
title
Contract: Amendment No. 1 to Executive Director Employment Agreement
end
AGENDA ITEM TYPE:
Non-Procurement Agreement
RECOMMENDATION:
Approve and execute Amendment No. 1 to the Executive Director Employment Agreement.
BACKGROUND:
UTA and Jay Fox agreed to specific terms of relocation reimbursement as part of his employment agreement. These original terms were insufficient in comparison to the actual costs of relocation.
DISCUSSION:
Mr. Fox’s initial quote for moving goods was under the $20,000 included in the initial employment agreement. Since then, his moving expenses cost him significantly more. Mr. Fox did not use both months of his COBRA reimbursement. Parties believe it is reasonable and fair to increase the amount of relocation to $30,000 to help with the actual costs of relocation.
ALTERNATIVES:
Reimburse at the $20,000 amount.
FISCAL IMPACT:
This increases the cost of Mr. Fox’s reimbursement total by approximately $7,500 however this cost can be absorbed in the 2022 budget.
ATTACHMENTS:
Amendment No. 1 to Executive Director Employment Agreement