Banking Overtime Sample Clauses
The Banking Overtime clause establishes the rules for accumulating and using overtime hours worked by employees. Typically, it allows employees to "bank" extra hours worked beyond their regular schedule, which can later be taken as time off or, in some cases, paid out as additional compensation. This clause clarifies how overtime is tracked, the limits on how much can be banked, and the process for requesting time off using banked hours. Its core function is to provide flexibility for both employers and employees in managing work hours and compensation, while ensuring transparency and fairness in handling overtime.
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Banking Overtime. The purpose of banked overtime is to offset the loss of wages due to a reduction in the regular hours of work as per Article 17.
01. Banked overtime may also be used to offset loss of wages due to the employee’s absence from work due to sick time, medical appointment attendance, and family responsibility leave or to extend bereavement leave. In addition an employee may utilize a maximum of five (5) days of banked overtime as paid time off work however it cannot be used in conjunction with vacation time off.
a) Employees will be entitled to bank overtime at the rate of one and one-half (1½) hours for every one (1) hour of overtime worked.
b) Employees may only bank overtime in the amount of sixty (60) minutes (thirty (30) minutes at the Hatchery) or more. Any overtime worked that is less than sixty (60) minutes (thirty (30) minutes at the Hatchery) shall be paid out. The maximum amount of time an employee will be allowed to bank at any one time is the equivalent of eighty (80) regular hours per calendar year. Any amount greater than eighty (80) regular hours will be paid out as it is earned.
c) Banked overtime will be accumulated from June 1st to May 31st of each year. Any unused banked overtime will either be paid out yearly by the first pay period in June, or upon employee request the employee may choose to have any unused banked overtime deposited to their RRSP as per appendix B-11. Carry-over of banked overtime will not be allowed.
d) Employees opting to bank overtime in lieu of payment shall be entitled to take time off from their banked overtime upon giving the Company at least two (2) weeks written notice and will be subject to operational requirements. However, no employee shall be allowed to use banked overtime during the time period of June 1st to September 30th and December 1st to December 31st.
e) When scheduling requested banked overtime, vacation scheduling shall take priority.
f) Employees shall be entitled to use banked overtime for maximizing hours to a maximum of forty (40) hours per week or in blocks of one hour or more.
Banking Overtime. All employees who are required to work overtime shall elect at the time of working such overtime whether to be paid for it or instead to receive compen- sating time off in lieu. An employee who elects to receive compensating time off, shall be credited with compensating time off equivalent to the number of hours which would have been paid for the overtime worked, and, subject to an employee's request to be granted compensating time off being approved by the employee's Department Head (or delegate), such employee shall be granted any portion of the compensating time off at the rate or rates in effect at the time the overtime in question was worked. All compensating time off credited during a particular calendar year but which has not been granted to an employee by March 31st of the immediately following year shall be paid in cash at that time at the pay rate or rates in effect at the time the overtime in question was worked.
Banking Overtime. During negotiations the parties discussed allowing represented salaried employees an informal arrangement to bank overtime hours worked in lieu of receiving pay. The intent of this arrangement was to allow an employee to bank the premium overtime hours at the appropriate rate and receive comparable hours off with the approval of Management. As a result, a local Banking Overtime arrangement was developed and implemented in many areas through the Office, Clerical and Engineering unit. During these present negotiations, it was agreed to confirm or clarify certain understandings with regard to the Banking Overtime arrangement as follows:
1) The maximum hours per employee to be banked at any given time is forty (40).
2) The opportunity to bank overtime hours will be afforded only to seniority employees.
3) In the event an employee has only a four (4) hour vacation entitlement remaining, such employee will be allowed to add four (4) hours of banked time to the vacation time to allow for a full shift off the job.
4) Banked hours may be carried over from one calendar year to another.
5) Unused vacation time shall not be just cause for an employee to be denied the use of banked hours. Where implemented, the Company reserves the right to modify, limit the banking of overtime hours worked and not paid, the period of time in which hours off may be taken. The Company or the Union may terminate this arrangement upon thirty (30) days written notice to either party. (c08)
Banking Overtime. (a) Regular employees who work overtime may transfer to an overtime leave bank up to 100% of the overtime hours earned to be taken as time off in lieu of wages providing that the total number of hours transferred to the overtime leave bank in any calendar year shall not exceed 37.5 hours. Overtime leave will be subject to essential departmental requirements and it will not be unreasonably denied. It must be taken prior to any leave of absence without pay unless otherwise agreed by the parties. It will not take precedence over another employee's vacation leave. It will be taken in the calendar year in which it is banked except that up to 15 hours of overtime banked after October 1st in any calendar year can be taken in the first quarter of the following calendar year if it is not possible to take it in the calendar year in which it is banked. Overtime which remains in the overtime leave bank at the last date when it can be taken will be paid out at the prevailing hourly rate within 30 days thereafter or within such longer period as the parties may agree, with agreement not to be unreasonably denied.
(b) Overtime leave shall be the equivalent in hours to the overtime payment entitlement, e.g. one (1) hour of overtime worked prior to or following a regular shift or work-day at time and one-half rate equals one and one-half hours paid leave.
Banking Overtime a. The regular hourly wage rates shall apply to the first forty (40) hours of work performed in any week or the first eight (8) hours of work in any day. All hours worked in excess of forty (40) hours weekly shall be paid for at the rate of one and one-half (1 ½ ) times the basic straight time hourly rate. All hours worked in excess of eight (8) hours daily shall be paid for at the rate of one and one-half (1 ½ ) times the basic straight time hourly rate provided, however, work performed after three (3) consecutive hours of one and one-half (1 ½ ) times shall be paid at the rate of two (2) times the basic straight time hourly rate. Overtime shall be paid on a daily or weekly basis, whichever is greater, but not for both.
b. Employees are entitled to bank their overtime worked (additional shifts and shifts worked on days off) up to a maximum of forty (40) hours into a floating overtime bank to be maintained by the Company. Once the bank is full (i.e. 40 hours) future overtime will be paid out as per normal overtime. Employees are entitled to take their banked time as paid time off, in full shift multiples, provided they give the Company one (1) week notice if they intend to take one or two (1 or 2) days off work and two (2) weeks notice if they intend to take three to five (3 to 5) days off work. Banked overtime will be calculated as part of the vacation allotment provisions of Article 16.01 (c) i.e. should the maximum allotment for holidays during a specific time be full, the individual with "banked overtime' could not convert this time off during this period. Employees may opt to cash out any portion of their banked overtime at any time, provided they give the Company one (1) week's notice. If an employee withdraws banked overtime either in paid time off or as cash such that their bank falls below forty (40) hours, they will be allowed to again bank back up to forty (40) hours. Employees will indicate on forms provided by the Company whether they wish to bank their overtime within one (1) month of the ratification of the collective agreement and then annually in co-ordination with the vacation sign-up process. The amount of overtime banked and withdrawn will be maintained in an overtime banking log which shall be available for inspection on request of the employee or the Union.
Banking Overtime. 17.08 67 Bargaining Unit Work ................................ 2.03 12 Benefits ........................................................... 24 91 Benefits ........................................... Appendix B 122 Bereavement Leave................................... 15.10 58 Casual Employee (Definition) .................... 3.04 14
Banking Overtime. The purpose of banked overtime is to offset the loss of wages due to a reduction in the regular hours of work as per Article 17.
01. Banked overtime may also be used to offset loss of wages due to the employee’s absence from work due to sick time, medical appointment attendance, and family responsibility leave or to extend bereavement leave. In addition an employee may utilize a maximum of five (5) days of banked overtime as paid time off work however it cannot be used in conjunction with vacation time off.
a) Employees will be entitled to bank overtime at the rate of one and one-half (1½) hours for every one (1) hour of overtime worked.
b) Employees may only bank overtime in the amount of sixty (60) minutes (thirty
Banking Overtime. Employees who work overtime may request time off in lieu of overtime pay, but such time off must be taken at a time mutually agreed to with the Employer. The length of time off with pay shall be equal to the straight time equivalent to the overtime earnings. Banked overtime in excess of thirty five (35) hours at June 30th and December 31st each year may be paid out at the employer’s discretion.
Banking Overtime. During these negotiations the parties discussed allowing represented nurses an informal arrangement to bank overtime hours worked in lieu of receiving pay on a trial basis. The intent of this arrangement would be to allow an employee to bank the hours at the appropriate rate and receive comparable hours off with the approval of Management. The parties agree that the amount of hours an employee would be allowed to bank must not exceed eighty (80) hours. Banked hours, when taken, will not exceed more than two consecutive work days (Monday to Friday) in a regular workweek except during periods of layoff. Salary Administration, Salary Labour Relations and the Department Management agree the implementation of this plan must not interfere with the efficiency of the operation. The Company reserves the right to modify, limit the banking of overtime hours worked and not paid, the period of time in which hours off may be taken, and also to terminate this arrangement.
Banking Overtime. 1. Max 40h accumulated at worked pay rate (2h @ x1.5 = 3h in the bank) per calendar year, unless the employee’s vacation entitlement is less than 5 weeks; then the max will be 80h.
2. Banked vacations will be approved at the sole discretion of management.
3. Employees will give notice to management of their intention to bank the OT when being polled for the OT shift to be banked. Payment of banked time off and banking of OT may require administrative duties by the employee doing the request.
4. Time accumulated can be taken from May 1st to April 30th of the following year.
5. Any unused banked OT will be paid at the worked rate by April 30th of the following year.
6. Requests for banked time off can only be made once the time has been fully accumulated.
7. To qualify for this program, the employee needs to have scheduled all of his vacation entitlement for the vacation year.
8. Employees may, at their discretion, request payment in cash for overtime hours banked.