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.
Appears in 2 contracts
Sources: Collective Agreement, Collective Agreement