(a) In addition to the approved hourly pay rates, each employee whose wages are computed on an hourly basis, and who has completed at least twelve months of employment by December 31 of any year, shall be paid additional longevity compensation based on a forty-hour week, including holidays and vacation time, but not including time in excess of forty hours per week, as follows:
(1) For each year starting January 1, after completion of twelve months of satisfactory employment to and including the fifth year after such January 1, an additional compensation of two cents (2¢) per hour for each year of satisfactorily completed service multiplied by the number of full years of employment as of the first day of January of that year; and
(2) For each year starting January 1, after completion of six years of satisfactory employment, an additional compensation of three cents (3¢) per hour for each year of satisfactorily completed service multiplied by the number of full years of employment completed as of the first day of January of that year.
In the event that a salaried employee transfers to an hourly position, that person's longevity compensation shall be based only on time spent as an hourly employee. Time spent as a salaried employee is not included in longevity compensation calculations.
(b) All salaried employees are eligible for a performance bonus which is not to exceed the amount that is computed by multiplying two-tenths of one percent of the employee's salary times the number of years of service with the Village. However, before such bonus is paid, all department heads' performances for the year in which such bonus is to be paid must be approved by the Finance Committee and the Village Administrator. The Tax Administrator and the Police Chief shall have their performances for the year approved by the Mayor and the Finance Committee before such bonus is payable. If an employee is deemed eligible for a bonus, such bonus shall be paid on the last payroll of the year, provided that the employee is still employed by the Village. No salaried employee shall receive a bonus, as set forth in this section, until such time as such employee has completed one full year of service with the Village.
In the event that an hourly employee transfers to a salaried position, that person's performance bonus shall be computed from the beginning date of that person's employment in that salaried capacity.
(c) Longevity pay and the performance bonus, as set forth in this section, shall not be included in calculating accrued sick leave for retirement purposes.
(Ord. 1218. Passed 12-23-91; Ord. 1304. Passed 12-27-95; Ord. 1311. Passed 5-28-96; Ord. 1350. Passed 12-22-97.)