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M.V. ORDINANCE N0. 88° 3 <br />Page -8- <br />(I) For not less than five (5) years nor more than ten <br />(10) years' service, $25.00 additional compensation per month. <br />(II) For not less than ten (10) years nor more than <br />fifteen (15) years' service, 540.00 additional compensation <br />per month. <br />(III) For not less than fifteen (15) years nor more than <br />twenty (20) years' service, 555.00 additional compensation <br />per month. <br />(IV) For more than twenty (20) years' service, 570.00 <br />additional compensation per month. <br />4. All full-time employees of the municipality as of the date <br />of passage hereof shall retain, for the purpose of computing <br />their longevity pay, the years of service credited to their <br />employment with the municipality, as currently appears on the <br />personnel and payroll records of the Village. <br />D. Vacation Schedule <br />1. An employee hired prior to July 1 in any year shall for the <br />_ purposes of computing vacation only be considered to be in his <br />second year of employment on January 1st of the year following his <br />yea r of employment . <br />2. An employee hired on or after July 1 in any year shall for the <br />purposes of computing vacation only be considered to be in his <br />second year of employment on January 1st of the year following the <br />first anniversary of his employment. <br />3. An employee hired prior to July 1 in any year shall be <br />entitled to 3 days vacation in the year of his employment. <br />4. An employee hired on or after July 1 in any year shall in the <br />year following his employment be entitled to one day of vacation <br />for every 2 months of employment, not to exceed 5 total vacation <br />days. Such vacation days shall not accrue until after the <br />employee has worked each 2 month period. <br />5. All vacation time shall accrue to an employee on January 1st <br />of each year and employees may take their vacation at any time <br />within the calendar year, subject to the approval of the head of <br />the department in which the employee works. <br />6. In the event an employee voluntarily leaves his employment <br />prior to December 31st of any year, his vacation time for that <br />year shall be prorated pursuant to the following formula: <br />accrued vacation days <br />days of the year (365) X number of days of the year already <br />passed <br />