Title
Amendment No. 2 to CEO Employment Agreement
Body
Agenda of: June 25, 2025
Item No.: 2025-207
Amount: N/A
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: William M. Wolfson
Deputy Chief Executive Officer
Great Lakes Water Authority
DATE: June 2, 2025
RE: Amendment No. 2 to CEO Employment Agreement
MOTION
Upon recommendation of William M. Wolfson, Deputy Chief Executive Officer, and David W. Jones, General Counsel, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA):
1. Approves the attached Amendment No. 2 to the CEO Employment Agreement; and
2. Authorizes the Board's Chairman and GLWA General Counsel to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
On June 26, 2022, the Board entered into an Employment Agreement (Agreement) with Suzanne R Coffey to serve as the GLWA's Chief Executive Officer (CEO). That Agreement provided for a performance-based bonus. (Section 5.1 and Attachment B). On June 26, 2025, the Board approved Amendment No. 1 to this Agreement. This Amendment, No. 2 amends the Agreement to update and replace the current Exhibit B. The purpose of this Amendment is to remove section B, II, F referring to the now expired requirement limiting annual increases in GLWA's revenue requirement be limited to 4%. Although this specific provision is removed, it should be noted that the requirements of prudent financial management contained in section B, II, B remain.
JUSTIFICATION
The Board employs the GLWA CEO who is responsible for the day-to-day operations of the utility.
BUDGET IMPACT
The projected costs associated with Amendment No. 1 to the CEO's Employment Agreement can be accommodated within the budget for Fiscal Year 2024-25 adopted by the Board.
COMMITTEE REVIEW
This item was presented directly to the full Board.
SHARED SERVICES IMPACT
This item does not impact the shared services agreement between GLWA an...
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