Common use of Banking Overtime Clause in Contracts

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 The amount of overtime banked and withdrawn will be maintained in an overtime banking log which shall be available for inspection on request of the employee or the Union.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. a. (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. (i) 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. a (ii) Once the bank is full (i.e. 40 hours) future overtime will be paid out as per normal overtime. . (iii) 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 weeks' notice if they intend to take three to five (3 to 5) days off work. . (iv) 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. . (v) 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. . (vi) 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. . (vii) 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. . (viii) 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. a. 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 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 ½) times the basic straight time hourly rate provided, however, work performed after three (3) consecutive hours of one time and one-half (1 ½ 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. 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 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 periodperiod except by mutual agreement. 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. a. 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 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 ½) times the basic straight time hourly rate provided, however, work performed after three (3) consecutive hours of one time and one-half (1 ½ 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. 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 periodperiod except by mutual agreement. 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. a. ‌ (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 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 ½) times the basic straight time hourly rate provided, however, work performed after three (3) consecutive hours of one and one-half (1 ½ 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. (i) 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. . (ii) Once the bank is full (i.e. 40 hours) future overtime will be paid out as per normal overtime. . (iii) 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 weeks' notice if they intend to take three to five (3 to 5) days off work. . (iv) 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' overtime could not convert this the banked time off during this period. . (v) 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. . (vi) 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. . (vii) 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. . (viii) 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.