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ORIGINAL <br /> <br /> AMENDMENT NO. 3 <br /> TO <br /> EMPLOYMENT AGREEMENT <br /> <br /> [Stan T. Yamamoto, City Attorney] <br /> <br /> This Amendment modifies that certain Employment Agreement (hereafter <br />referred to as "Agreement") entered into on the _~_~day of ~ 2003, by and <br />between Stan T. Yamamoto (hereafter referred to as "Employee") and the City of <br />Redwood City (hereafter referred to as "City"). <br /> <br /> RECITALS <br /> <br /> WHEREAS, City has employed Employee in the position of City Attorney; and <br /> <br /> WHEREAS, City and Employee have agreed that the following amendment to <br />the Agreement is appropriate and necessary; and <br /> <br /> WHEREAS, Paragraph 7 of the Agreement provides for a loan to Employee to <br />purchase a permanent residence in either the City of Redwood City or, after having <br />exercised his best efforts to secure said residence within the City, in another <br />appropriate location; and <br /> <br /> WHEREAS, City and Employee now agree to amend the Agreement to provide a <br />method by which Employee may be able to purchase a residence with the financial <br />assistance of City; and <br /> <br /> WHEREAS, on or about March 10, 2003, the City Council of the City of Redwood <br />City, at a regular meeting of said legislative body, authorized financial assistance to <br />Employee in an amount not to exceed Four Hundred Thousand Dollars ($400,000), and <br />further authorized the Mayor and Vice Mayor to provide that said financial assistance to <br />be in support of a commercial loan, to provide reasonable means for accelerating <br />repayment of said amount, and for the Mayer to execute such documents as necessary <br />to effectuate said purposes. <br /> <br /> NOW, THEREFORE, City and Employee agree as follows: <br /> <br /> 1. This Amendment shall only effect the terms and conditions of Paragraphs <br />3.A, 7, 8.D and 9.B.1 of the Agreement pertaining to the purchase of a permanent <br />residence by Employee. <br /> <br /> 2. Paragraph 3.A of the Agreement is hereby amended to read as follows: <br /> <br /> A. Retroactive to the pay period beginning on July 29, 2003, <br /> and thereafter, Employee shall accrue vacation leave on the basis <br /> of 25 workdays per year. Said accrual shall be without limitation. <br /> <br />F:Atty/Agr/Amend3.Yamamoto <br />040403 1 <br /> <br /> <br />