Banked Overtime Hours Sample Clauses

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Banked Overtime Hours. It is agreed that all employees shall have the option of either being paid or to bank all overtime hours worked. All hours banked in a calendar year will be paid at the rate of pay at the time the employee banked the overtime if the employee has not exhausted bank at the end of each calendar year. Employees wishing to take paid time off in lieu of overtime pay must provide at least two weeks` notice to their supervisor. Paid time off must be scheduled by mutual agreement between the employee and supervisor. Employees will be allowed to bank overtime in dollars until the end of the following calendar year.
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Banked Overtime Hours. Employees may elect to bank hours of overtime, up to a maximum of eighty (80) straight time hours. This decision must be communicated to the Company, in writing, prior to December 31 each year, on an appropriate form to be provided by the Company. Banked hours are earned during the calendar year between January 1 and December 31. Banked hours will be paid at the rate the employee was receiving at the time they earned the banked hours. Banked hours will only be utilized for maximizing regular hours during a short work week or to apply against the three day waiting period referred to in 19.06(b). For the purpose of this clause it is understood that a short work week is defined as a week in which the number of scheduled work hours is less than forty (40) hours. Upon three (3) weeks notice to the Company, hours banked but not taken shall be paid upon request. Accumulated hours will be recorded and such recap shall be made available to employees upon request. RENEWED THIS 8th DAY OF JUNE , 2013 . BETWEEN: Lilydale Co-operative Inc. Abbotsford, B.C. AND: United Food and Commercial Workers International Union, Local 1518
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Banked Overtime Hours. It is agreed that all employees shall have the option of either being paid or to bank all overtime hours worked. All hours banked in a calendar year to be taken as paid time off by the end of the following calendar year or paid out as regular earnings at the appropriate rate. Banked hours taken as time off will be paid at the rate of pay at the time the employee requests time off as banked, provided, however, that the monetary value of paid- out banked overtime is equal to the dollar amount banked. It is understood that the employee(s) will give the Employer at least one month’s notice of the time at which they want to use the banked overtime and the time will be mutually agreed upon by the Employer and Employee.
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Banked Overtime Hours. Employees may bank up to forty (40) hours of overtime annually, which they may use as vacation time, provided a vacation slot is available in accordance with Article 19. Unused banked hours will be paid out in the last pay period of December of each calendar year. One (1) time each calendar year an employee may request in writing that his bank of overtime hours be paid out in full, provided the employee has made such a request of the Company at least two (2) weeks prior to the Company’s next scheduled pay day.
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Banked Overtime Hours. It is understood that the reporting of this information is subject to the limitations of the facility’s payroll system and subject to the acceptability to the Employer of any costs associated with modifying the payroll system.
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Related to Banked Overtime Hours

  • Banked Overtime (a) Compensating time off shall not be given in lieu of overtime pay unless the employee so chooses. Employees who wish to bank overtime must confirm same in writing to the Company between March 1st and March 15th and again between September 1st and September 15th of each calendar year. Employees shall be entitled to cancel their decision to bank overtime at any time. In such cases, the employee shall provide the Company with a written notice confirming same, and shall not be eligible to resume banking overtime until the following March 1st or September 1st, as the case may be. (b) Accumulated banked overtime hours shall be shown on the employee's weekly pay stub until implementation of the Workbrain System, at which point such information will be available for review through that System. (c) Banked overtime shall accumulate at the rate of one and one-half (1½) or two (2) hours of paid time off, as the case may be, for each hour of overtime worked. Employees shall only bank overtime exceeding one (1) hour. If overtime worked does not exceed one hour, such overtime shall be paid out. (d) Employees shall have the option of cashing in all or any portion of said banked overtime at any time he or she chooses. Banked overtime that is subsequently cashed in by an employee shall be paid to the employee at the regular hourly rate of pay said employee was being paid at that time. All banked overtime must be used or cashed in by the end of the calendar year in which it was earned, unless otherwise mutually agreed to between the employee concerned and the Company. Separate cheques will not be issued for banked overtime but, when paid out, the banked overtime amount will be itemized separately on the employee’s pay record. (e) Subject to the following paragraph, each employee shall decide when his or her compensating time off is to be taken except that no such time off can be taken on the working day immediately preceding and following a general holiday without the prior approval of the Company. Compensating time off shall be granted to employees on a first come first served basis. Seniority shall only apply and be the governing factor in situations where on the same day, too many employees put in a request to take compensating time off at the same time. A maximum of four (4) employees per day shall be entitled to use their banked overtime. These amounts may be increased from time to time at the discretion of the Company. (f) All banked time off requests must be submitted by the Monday of the week preceding the requested time off. The minimum amount of such time off that can be taken at any one time shall be four (4) hours. The Employer agrees to respond to the employee’s request within twenty-four (24) hours. Should no response be given by the Employer, then permission for the time off will be deemed to have been granted (g) For the purpose of using banked overtime for regularly scheduled days off (excluding shut downs), each employee shall have the ability to use a maximum of forty (40) hours while working eight (8) hour shifts and forty-eight (48) hours while working continental shifts per calendar year. All other overtime banked shall be paid out to employees upon request. Should an employee want to take off more than the maximum hours off noted above per calendar year, a written request will be submitted to the Company for consideration and will be approved at the Company’s discretion. (h) No requests for time banked time off for regularly scheduled days off, between April 15th – December 31st of each year will be approved until after the vacation planner has been finalized for the year. Once the planner has been finalized all requests will be granted on a first come first serve basis. (i) No employees will have the ability to request regularly scheduled days off (excluding shut downs) during the prime time vacation period for the use of banked overtime. (j) All employees hired after April 15, 2015 will not be eligible to bank overtime.

  • Overtime Hours Except as otherwise provided in this section, all hours worked in excess of the established work day, before or after an employee's regular scheduled shift, or on any regularly scheduled day off, shall be considered overtime. All paid vacation time, paid holidays, paid sick leave, compensatory time off, and paid leaves of absence shall be considered as "time worked" for purposes of this Article. Part-time employees whose established work day is less than eight (8) hours shall not be considered to be working overtime until having completed eight (8) hours of work.

  • Scheduled Overtime Scheduled overtime is overtime which is assigned by the end of the employee's last worked shift prior to the overtime assignment and which does not immediately precede or immediately follow a scheduled work shift. Unless notified otherwise in advance of the scheduled starting time of the scheduled overtime assignment, any employee who is scheduled to report for work and who reports as scheduled shall be assigned at least two (2) hours work. If work is not available, the employee may be excused from duty and paid for two (2) hours at the employee's appropriate rate. If the employee begins work but is excused from duty before completing two (2) hours of work, the employee shall be paid for two (2) hours at the employee's appropriate rate.

  • WORKING HOURS AND OVERTIME 18 ARTICLE 6 - WAGES 26

  • Unscheduled Overtime I. a payment of forty dollars ($40.00) as a meal allowance. II. a payment of thirty (30) minutes at straight time rates in lieu of the meal break: and III. a fifteen (15) minute rest break at the applicable rate of pay