Common use of Banking of Overtime Clause in Contracts

Banking of Overtime. Overtime hours may be banked to provide employees with paid time off. As a general rule banked hours must be taken during periods of layoff. Prior to September 1 of each year interested employees will sign the appropriate form to request that the Company bank their overtime hours.

Banking of Overtime. Overtime When an employee works overtime the employee may elect to receive time off with pay. Such time off shall be the equivalent in hours may be banked to provide employees with paid time off. As a general rule banked hours must be taken during periods of layoff. Prior to September 1 of each year interested employees will sign the appropriate form to request pay for such overtime that the Company bank their overtime hours.would have been calculated under Clause

Banking of Overtime. Overtime hours may be banked to provide employees with paid time off. As a general rule banked hours must be taken during periods of layoff. Prior to September 1 of each year interested employees will sign the appropriate form to request that the Company bank their overtime hours.. Banked overtime hours are subject to the following conditions: