Common use of Banking Overtime Clause in Contracts

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. 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:: 95 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)