Overtime Bank Clause Samples

Overtime Bank. All overtime worked in excess of the hours so stated shall be paid on the following pay period in which it was earned except: 12.6.1 that employees can accrue overtime to a maximum of five (5) working days to be taken in addition and at the time of their annual vacations, 12.6.2 that accrued overtime in excess of five (5) working days shall be paid at the time of annual vacations, 12.6.3 that employees may elect to take time off at the appropriate overtime rate in lieu of payment for overtime, at a time mutually agreed upon between the Library and the employee, 12.6.4 the accrued overtime in excess of time off in lieu of payment for overtime shall be paid at the time of annual vacations at the earned rate.

Overtime Bank. At the employee's option, the overtime worked may be credited to an overtime bank. At a mutually agreed time the Society will grant time off at the appropriate overtime rate in lieu of overtime pay within six twelve months after the overtime was earned.

Overtime Bank a) Non-Rotational Employees will have the option to bank overtime and statutory holidays. b) Rotational Employees will have the option to bank overtime and statutory holidays worked, this time bank cannot be used for the purpose of taking time off work. However, with pre-approval of Management/Director time bank may be used for the purpose of taking time off work. 7.09.02 Banking of overtime will be on the basis of one and one half (1.5) hours for each hour of overtime. For example, an Employee who works and submits two (2) hours of overtime will have his/her bank credited with three (3) hours. 7.09.03 Part time Employees will have the option to bank any additional hours worked in excess of their scheduled shift including General Holiday hours. These hours will be credited at the appropriate rate of pay as outlined in 7.03.02. 7.09.04 Following the vacation bid, Non-Rotational Employees will have the ability to request time off to increase their vacation allotment up to an additional two (2) weeks, provided they have the time in their time banks. Such time off must be taken from the Employee's time bank in a minimum of one (1) week blocks. Time off will be approved by Bargaining Unit Seniority order subject to operational requirements at least four (4) weeks in advance. Banked time of less than one (1) week will be granted subject to operational requirements on a first come, first served basis. 7.09.05 No Employee shall be permitted to have a negative balance in their time bank. 7.09.06 Where an Employee receives a pay change, previously earned time bank hours will be adjusted in order that the time bank dollars remain consistent. a) Non-Rotational Employees may also request time off on a guaranteed basis. Under these circumstances the Employee may be required to reimburse the Company with the actual hours required to cover the Shift on an overtime basis, however no less than the actual time off requested. b) The Non-Rotational Employee shall submit a request, in writing, at least 72 hours prior to the requested day off. The Employee must have sufficient time in their time bank, and verification of such at the time of the request may be required. The Company must respond, in writing, within 48 hours of receiving the request. No Employee shall be drafted in order to cover the Shift.

Overtime Bank. The definition of "Overtime Bank" shall be as given in Clause 16.11.

Overtime Bank a) Employees may bank unlimited overtime and an Employee may request payout of their banked overtime at any time. b) Employees shall be permitted to take time off from banked overtime to a maximum of ten (10) days per year. Time off shall be taken at a time mutually agreed upon between the Employer and the Employee. Payment of banked overtime shall be paid at the rate at which it was earned. c) By mutual agreement, an Employee may carry over a maximum seven (7) days to augment the next year's vacation allotment. Such request shall be submitted no later than December 31st. d) All banked overtime not carried over shall be paid out by January 31st of the following year. e) Casual Employees, while working in temporary positions, can bank overtime hours until such time as the temporary position has ended. Banked overtime for Casual Employees shall be paid out in the first full pay period in December.

Overtime Bank. 17.1. At the employee’s option, the City shall deduct one hundred percent (100%) of overtime earned or standby pay at regular rates and shall credit the dollar amounts to the employee's overtime bank. The employee’s overtime bank may have a maximum equivalent of eighty (80) hours at the end of the current weekly payroll reporting period. 17.1.1. Employees must apply to their Supervisor in writing to use banked overtime, with as much advance notice as possible. 17.1.2. The approval or denial of banked overtime by Supervisors shall be based solely on whether there are sufficient personnel to perform the work scheduled. The decision of the Supervisor is final and is not open to dispute or argument by the employee. 17.1.3. Any or all of an employee's Overtime Bank may be paid out at the employee’s discretion. 17.1.4. Banked overtime shall be credited at the basic rate of pay in effect at the time of earning. When taken as time off, hours available shall be determined by dividing the banked dollar total by the current basic rate of pay.

Overtime Bank. Overtime pay shall be paid out in the bi-weekly pay period in which it is earned.

Overtime Bank. Employees may at their option “bank” overtime hours for the purpose of taking paid time off according to the following: (a) Banking will be on the basis of one and one half hours (1 ½ x hours) banked for each overtime hour worked; (b) The maximum number of banked overtime hours is eighty (80) at any given time; (c) Employees may use banked time as additional time off with pay or may be paid for hours banked at the employee’s option; (d) Payment of hours out of the overtime bank will be at the employee’s rate of pay at the time the hours were banked, and not at the employee’s rate of pay at the time the employee is paid out of his banked time as wages; (e) Banked hours may be taken as paid time off at a time mutually agreeable to the Employer and the employee having regard to the Employer’s operational requirements. Time off from an employee’s bank will generally not be taken if doing so would require the Employer to pay overtime rates; (f) Time off requests must be given to the Employer one month prior to the date(s) for which time off is being requested. Requests will be granted to the most senior employee with their request on file when the time off is approved; (g) Time off requests within fourteen days will be granted provided the employee involved can cover the shift in accordance with the call out provisions. The time off will be approved when the employee provides the Employer with the completed call out sheet.

Overtime Bank. (a) Effective December 1st of each year, employees shall have the option to participate in the time bank. Those who do not elect to participate shall be paid time in accordance with the laid down provisions. Employees, who so elect to either participate or not, will be bound by that decision to December 1st the following year. (b) Employees choosing to participate will have the opportunity to choose to bank a maximum of forty (40) hours, eighty (80) or one hundred and twenty (120) hours. The employee will be required to make the choice on December 1st each year and the choice will be in force until December 31st of the following year. (c) For credit purposes all overtime hours shall be converted to straight time hours. (d) All banked hours shall be paid at the rate earned at the time of credit regardless of any wage increases. (e) Banked hours shall not be carried over from year to year. If an employee has not liquidated any banked hours by December 31st of any year, said employee shall be paid for any remaining hours on the first pay period in the following year. (f) Time bank hours cannot be used to supersede annual vacation or Statutory Holiday entitlement of other employees. (g) Employees may use their banked hours for time off wherever there is available slot in the vacation schedule. The maximum number of employees off at any time is determined by ratios in 21.04(a) such that the total number of employees off on vacation and using their banked hours will not exceed those ratios. (h) Employees may liquidate time bank hours for not less than one (1) scheduled shift, with a minimum of ten (10) calendar days notice. (i) Overtime bank days will be bid day-by-day at the first rotation of bidding and be awarded by seniority. An employee can bid a maximum of ten (10) days. After completion of bid, when requests are made, they will be awarded on a first come first serve basis. When requests are made on the same day, seniority will apply.