Common use of Banking Overtime Clause in Contracts

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. 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 upon with the Employer. The length of time off with pay shall be equal to the straight time equivalent to of the overtime earnings. Banked overtime in excess Such time off must be taken within 6 months of thirty five (35) hours at June 30th and December 31st each year may being earned or it will be paid out at the employer’s discretionout.

Banking Overtime. Employees An employee who work has worked overtime may can request the equivalent of time off in lieu of the overtime paypayment, but such provided he notifies his supervisor in advance of his intention to bank overtime of up to a maximum of forty (40) hours per calendar year. The time off taken in lieu of must be taken at a time mutually agreed to with upon and the Employerreplacement would be at regular time and not on overtime. The length Time not taken in lieu will be payable as 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 of each year may be paid out at the employer’s discretionyear.