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Compensation shall be paid upon completion of all required courses. <br />7.12 All bargaining unit members, upon being selected as a Sergeant, Lieutenant, or <br />Captain, shall be paid additional compensation for serving in those positions for the duration of <br />this Agreement, at the following rates: <br />Sergeant: One Hundred Fifty Dollars ($ 150.00). (This annual compensation will not be <br />initiated until after the Sergeant's probationary period has been completed.) <br />Lieutenant: Two Hundred Fifty dollars ($ 250.00). <br />Captain: Three Hundred fifty Dollars ($ 350.00). <br />Compensation in this section is payable in a separate check, with the first pay in December of <br />each year covered under this Agreement. <br />ARTICLE 8 <br />LONGEVITY PAY <br />8.1. All full-time sworn employees shall receive longevity pay as additional <br />compensation computed on annual salary as follows: <br />4% after employee completes 5 years <br />5% after employee completes 10 years <br />6% after employee completes 15 years <br />7% after employee completes 20 years <br />For the purpose of this section, the term "annual salary" is defined as base pay, <br />shift difi'erential, over-time, vacation and sick pay. <br />In computing length of service for the purpose of making payments of longevity <br />increments as herein above set forth, no credit shall be given for part-time service, but such <br />limitation is the only exclusion for the purpose of computing longevity. <br />(10) <br />