The Manager shall be appointed by a two-thirds vote of all members of Council for an indefinite term. He shall be selected on the basis of his executive and administrative qualifications. No member of Council may be appointed Manager while serving on Council or within one year thereafter, unless otherwise provided by this Charter. Compensation of the Manager shall be fixed by two-thirds vote of Council. The Manager need not be a resident of the Municipality at the time of his appointment but may reside outside the Municipality while in office only with the approval of Council.