City Council

E. Consideration and possible action to approve Amendment No. 3 to the\nemployment agreement with Mr. Ara M. Mihranian, AICP, as City Manager.\n(Bañales)\nRecommendation: 1) Approve Amendment No. 3 to City Manager\nEmployment Agreement, thereby extending the terms for an additional three\nyears with a term date of February 18, 2026, and increasing the annual salary\ncompensation of the City Manager by 3% to an annual salary of $232,800 and\nauthorize the Mayor to execute the same on behalf of the City of Rancho\nPalos Verdes, the Successor Agency to the Dissolved Rancho Palos Verdes\nRedevelopment Agency and the Rancho Palos Verdes Improvement Authority\neffective February 19, 2022, the first pay period after the amendment is\napproved; 2) Approve an employee retention payment, not otherwise subject\nto CalPERS, to the City Manager of approximately 4.5% of his salary in the\namount of $10,500 to be paid directly to the City Manager; and, 3) Authorize\nthe Mayor and City Clerk to execute the amendment in a form approved by the\nCity Attorney.\nAgenda Report