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LONGEVITY PAY POLICY <br /> PURPOSE: <br /> Over a period of time many employees will reach the maximum for their <br /> wage range. As such they will be referred to as having reached the "top of <br /> their range." Although their wage will not be frozen, they will not receive <br /> the same percentage increase as they did while in the range. <br /> PROCEDURE: <br /> To continue to recognize these employees and provide a reasonable growth <br /> in their wage package, we provide a "Longevity Increase." Every third year <br /> after the employee has reached the range maximum; they will be eligible for <br /> a longevity increase. This will result in a special adjustment of three percent <br /> (3%) which will be granted on January 15` following the third year after <br /> reaching the range maximum. This will be in addition to the normal increase <br /> provided by any change in the step rates. This payment will be a lump sum <br /> payment so that it will not affect the pay scale. This employee must receive <br /> an acceptable performance review to be eligible for this special adjustment. <br /> ILLUSTRATION FOR CLARIFICATION: <br /> If an employee moved to the range maximum as of January 1, 2008, he/she <br /> will receive an increase equal to the new range maximum on January 1, <br /> 2009. Again, on January 1, 2010 he/she will again move to the new range <br /> maximum. On January 1, 2011 he/she will again move to the range <br /> maximum and will receive an additional three percent (3%) longevity <br /> increase which will be made in a lump sum payment. This process will be <br /> repeated again in January 2014 and every third year thereafter; again <br /> assuming that they continue to receive an acceptable performance review. <br />