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.' � , �. � The City also shall execute all necessary documents provided <br /> � , ' .� • by ICMA Retirement Corporation for the City's continued <br /> participation in the retirement plan thereof, and shall contribute an <br /> amount equal to ten percent (10%) of Employee's annual salary as <br /> deferred compensation to the ICMA Retirement Corporation 441 <br /> Retirement Plan on behalf of Employee,which contributions shall be <br /> paid at least on a monthly basis. Moreover, The City shall transfer <br /> ownership thereof to succeeding employers upon the termination of <br /> this Agreement. Employee agrees to execute such documents and <br /> further agrees to cooperate with the City in order to effectuate the <br /> provisions of this section of the Agreement. <br /> Both parties hereto agree to cooperate with one another in <br /> discussing and disclosing the effect of any change or amendment to <br /> said deferred compensation plan. <br /> E. The Agreement does not provide for certain life insurance benefits to be provided to <br /> Employee,and such provision of said benefits shall be in accordance with the express terms hereof, <br /> as follows: <br /> The City shall provide to Employee term life insurance benefits, so <br /> long as Employee remains insurable and the Agreement remains in <br /> full force and effect,which term life insurance benefits shall provide <br /> death benefits equal to three times the annual salary then earned by <br /> Employee,which death benefits shall be divided into payments made <br /> as directed, in writing, by Employee in the amount of twice the <br /> annual salary Employee then eaxns together with payment made to <br /> the City, or as directed by the City, in writing, in an amount equal to <br /> the annual salary Employee then earns. The provisions hereof are <br /> subject to the continuation ofbenefits provided Employee should his <br /> employment be terminated by the City, without cause, as described <br /> in § C of this Amendment to Employment Agreement. <br /> F. All other provisions, restrictions, duties and obligations set forth in the Agreement <br /> shall remain in full force and effect, and such shall also control the terms hereof, unless otherwise <br /> required herein. The parties hereto acknowledge that this Amendment to Settlement Agreement <br /> requires action by the City Council of the City to be binding and enforceable,and the parties hereto <br /> agree that until such action by said City Council, and prior thereto, the terms hereof shall have no <br /> -5- <br />