All full-time, exempt employees with at least 60 days of continuous full-time service with the town shall be compensated one hour in leave time for each hour worked in excess of 40 hours per week. All requests for more than one day of compensation time must be approved by the employee's ultimate supervisor (Clerk- Treasurer, Town Manager, or Police Chief). A full-time, exempt employee will be able to accumulate no more than 80 hours of compensation time. Compensation time will be given as time off and will not be paid as a cash stipend. In addition, compensation time will not be granted prior to being earned. Upon the death of an employee who has accumulated compensation time no stipend will be paid to his or her heirs. In the event the Town Manager or Police Chief works a substantial amount of time in excess of 40 hours a week, he or she may request compensation time from the Town Council or Board of Police Commissioners, respectively. The approval or denial of compensation time, in excess of 80 hours, for the Town Manager or Police Chief shall be wholly within the discretion of the Council or Board of Police Commissioners, respectively.
('80 Code, § 2.02.030 K.)