OVERTIME CONVERSION Clause Samples

OVERTIME CONVERSION. Any employee covered by this Agreement shall have the option of converting all overtime and premium rates excluding flat rates into time off in lieu, to a maximum of ninety (90) days, subject to: i) making an election on all overtime sheets to convert all or any part of said overtime. ii) the employee due or on scheduled leave or vacation shall be entitled to take this additional leave provided he gives the Company Fourteen (14) days prior notice, and such leave shall not be unreasonably denied. This arrangement shall not give rise to red day payments. iii) converted overtime shall be shown separately on the employee's pay statement on separation. iv) flat rates including subsistence allowance and ▇▇▇▇'▇ whites are not to be paid on such converted leave. v) An employee may elect in writing to retain his converted overtime leave and be paid into the red, as provided elsewhere under this Agreement, provided that such converted leave will be used before red days for makeup to full pay when he is on medical leave and educational leave. vi) Notwithstanding the foregoing, when an employee, who would otherwise be laid off, is allowed by the company to be paid into the red he shall be required to apply subsequent overtime pay to his red days.
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OVERTIME CONVERSION. Any employee covered by this shall have the option of converting all overtime and premium rates excluding flat rates into time off in lieu, subject to: making an election on all overtime sheets to convert all or any part of said the employee due or on leave or vacation be to take this additional leave provided he gives the fourteen (14) days prior notice. and such leave shall not be denied. This shall not give rise to red day payments. converted overtime shall be shown separately on the employee's pay statement on separation. flat rates including allowance and ▇▇▇▇'▇ whites are not to be paid on such leave. An employee may elect in writing to retain his converted overtime leave and be paid into the red, as provided elsewhere under this provided that such converted leave will be used before red for to pay when he is on medical leave and leave.
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OVERTIME CONVERSION. Any employee covered by this Agreement shall have the option of converting all overtime and premium rates excluding flat rates into time off in lieu, subject to: making an election on all overtime 'sheets to convert all or any part of said overtime. the employee due or on scheduled leave or vacation shall be entitled to take this additional leave provided he gives the Company fourteen (14) days prior notice, and such leave shall not be unreasonably denied. This arrangement shall not give rise to red day payments. converted overtime shall be shown separately on the employee's pay statement on separation. flat rates including subsistence allowance and whites are not to be paid on such converted leave. An employee may elect in writing to retain his converted overtime leave and be paid into the red, as provided elsewhere under this Agreement, provided that such converted leave will be used before red days for makeup to full pay when he is on medical leave and educational leave.
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OVERTIME CONVERSION. Any employee covered by this Agreement shall have the option of converting all overtime and premium rates excluding flat rates into time off in lieu, subject to: making an election on all overtime sheets to convert all or any part of said overtime. the employee due or on scheduled leave or vacation shall be entitled to take this additional leave provided he gives the Company seven (7) days prior notice, and such leave shall not be unreasonably denied. This arrangement shall not give rise to red day payments. converted overtime shall be shown separately on the employee's pay statement on separation. flat rates including subsistence allowance and ▇▇▇▇’▇ whites are not to be paid on such leave. An employee may elect in writing to retain his converted overtime leave and be paid into the red, as provided elsewhere under this Agreement, provided that such converted leave will be used before red days for makeup to full pay when he is on medical leave and educational leave. An employee having twenty (20) years of service and upon reaching age fifty eight (58) and at any time thereafter, may request to work up to half time subject to approval by the Company. The minimum period shall be one year. The of absence arrangement shall be as mutually agreed between the employee and the company. It is understood that an employee may have to relinquish his posting and take another position in order to facilitate this clause. The intent of this clause is for retirement phase in, not alternate employment. Such employee shall only accrues seniority and service for actual days worked and corresponding leave. The Company shall maintain Pension and Health and Welfare benefit contributions on a pro rata basis only for the time worked including leave and vacation time. The employee shall be required to pay his pro-rata share of Health Plan Benefit premiums. Top up with red days as under Article shall be prorated. The employee will only be entitled to Statutory Holidays which coincide with his being on the company’s payroll.
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OVERTIME CONVERSION. Any employee covered by this Agreement shall have the option of converting all overtime and premium rates excluding flat rates into time off in lieu, subjectto: making an election on all overtime sheetsto convert all or any part of said overtime. the employee due or on scheduled leave or vacation shall be entitled to take this additional leave provided he gives the Company fourteen (14) days prior notice, and such leave shall not be unreasonably denied. This arrangement shall not give rise to red day payments. converted overtime shall be shown separately on the employee's pay statement on separation. flat rates including subsistence allowance and ▇▇▇▇'▇ whites are not to be paid on such converted leave.
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OVERTIME CONVERSION. Any employee covered by this Agreement shall have the option of converting all overtime and premium rates excluding flat rates into time off in lieu, subject to: i) making an election on all overtime sheets to convert all or any part of said overtime. ii) the employee due or on scheduled leave or vacation shall be entitled to take this additional leave provided he gives the Company seven (7) days prior notice, and such leave shall not be unreasonably denied. This arrangement shall not give rise to red day payments. iii) converted overtime shall be shown separately on the employee's pay statement on separation. iv) flat rates including subsistence allowance and ▇▇▇▇'▇ whites are not to be paid on such converted leave. v) An employee may elect in writing to retain his converted overtime leave and be paid into the red, as provided elsewhere under this Agreement, provided that such converted leave will be used before red days for makeup to full pay when he is on medical leave and educational leave.
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OVERTIME CONVERSION. Any employee covered by this Agreement shall have the option of and premium rates excluding flat rates into time off in lieu, subject to: election on all sheets to convert or any part of said overtime. the employee due or on scheduled leave or vacation be entitled to take this additional leave provided he gives the Company fourteen (14) days prior notice, and such leave shall not be unreasonably denied. This arrangement shall not give rise to red day payments. converted overtime be shown separately on the employee's pay statement on separation. flat rates including subsistence allowance and ▇▇▇▇'▇ whites are not to be paid on such converted leave. An employee may elect in writing to retain his converted leave and be paid into the red, as provided elsewhere under this Agreement, provided that such converted leave will be used before red days for makeup to pay when he is on medical leave and educational leave. Notwithstanding the foregoing, when an employee, who would otherwise be laid is allowed by the company to be paid into the red he shall be required to apply subsequent overtime pay to his red days.
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OVERTIME CONVERSION. Any Unlicensed Employee covered by this agreement shall have the option of converting one hundred per cent (100%) of overtime and premium rates excluding flat rates into time off in lieu up to one hundred (100) days and fifty per cent (50%) thereafter subject to; (a) making an election on all overtime sheets to convert all or any part of said overtime. (b) the Unlicensed Employees may apply to the Company in writing for permission to take this additional leave provided he applies at least fourteen (14) days prior to commencing the additional leave. The Company shall grant the leave only if operational requirements can be reasonably accommodated at the time applied for. The Company will make every possible effort to accommodate employees to attend to: i. Urgent domestic or personal affairs; ii. Reduce red days; iii. Further relevant educational or training opportunities; iv. Sick days; and
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Related to OVERTIME CONVERSION

  • Sick Leave Conversion Sick leave accumulation in excess of 1,440 hours may be converted to paid vacation time at a ratio of two (2) hours of sick leave time for one (1) hour of vacation time, to a maximum of five (5) regularly-assigned workdays (not to exceed a total of forty (40) hours in any year. There shall be no conversion of unused sick leave in any amount at any time to any cash payment other than the above-described conversion to vacation time or severance pay in Article 13.

  • Casual Conversion A casual Employee, who has been engaged by the Employer on a regular and systematic basis for a period in excess of six-weeks, thereafter, will have their contract of employment converted to permanent employment unless otherwise agreed in writing between the parties. Regular and systematic shall be defined as an average of 4 days or more, per week, over 6 weeks. Eligible current employees will be transitioned to full time no later than 6 weeks from the date of approval of this agreement.

  • Maximum Conversion The Subscriber shall not be entitled to convert on a Conversion Date that amount of the Note in connection with that number of shares of Common Stock which would be in excess of the sum of (i) the number of shares of Common Stock beneficially owned by the Subscriber and its affiliates on a Conversion Date, and (ii) the number of shares of Common Stock issuable upon the conversion of the Note with respect to which the determination of this provision is being made on a Conversion Date, which would result in beneficial ownership by the Subscriber and its affiliates of more than 4.99% of the outstanding shares of Common Stock of the Company on such Conversion Date. For the purposes of the provision to the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder. Subject to the foregoing, the Subscriber shall not be limited to aggregate conversions of only 4.99%. The Subscriber may void the conversion limitation described in this Section 9.3 upon 75 days prior written notice to the Company. The Subscriber may allocate which of the equity of the Company deemed beneficially owned by the Subscriber shall be included in the 4.99% amount described above and which shall be allocated to the excess above 4.99%.

  • Mandatory Conversion Provided an Event of Default or an event which with the passage of time or giving of notice could become an Event of Default has not occurred, then, until the Maturity Date, the Borrower will have the option by written notice to the Holder (“Notice of Mandatory Conversion”) of compelling the Holder to convert all or a portion of the outstanding and unpaid principal of the Note and accrued interest, thereon, into Common Stock at fifty percent (50%) of the Conversion Price, as adjusted, then in affect (“Mandatory Conversion”). The Notice of Mandatory Conversion, which notice must be given on the first day following twenty (20) consecutive trading days (“Lookback Period”) during which the closing price for the Common Stock as reported by Bloomberg, LP for the Principal Market shall be greater than Five Dollars ($5.00) each such trading day and during which twenty (20) trading days, the daily trading volume as reported by Bloomberg L.P. for the Principal Market is greater than 100,000 shares. The date the Notice of Mandatory Conversion is given is the “Mandatory Conversion Date.” The Notice of Mandatory Conversion shall specify the aggregate principal amount of the Note which is subject to Mandatory Conversion. Mandatory Conversion Notices must be given proportionately to all Holders of Notes. The Borrower shall reduce the amount of Note principal subject to a Notice of Mandatory Conversion by the amount of Note Principal and interest for which the Holder had delivered a Notice of Conversion to the Borrower during the twenty (20) trading days preceding the Mandatory Conversion Date. Each Mandatory Conversion Date shall be a deemed Conversion Date and the Borrower will be required to deliver the Common Stock issuable pursuant to a Mandatory Conversion Notice in the same manner and time period as described in the Subscription Agreement. A Notice of Mandatory Conversion may be given only in connection with an amount of Common Stock which would not cause a Holder to exceed the 4.99% (or if increased, 9.99%) beneficial ownership limitation set forth in Section 2.3 of this Note.

  • Optional Conversion To convert any Conversion Amount into shares of Common Stock on any date (a "Conversion Date"), the Holder shall (A) transmit by email, facsimile (or otherwise deliver), for receipt on or prior to 11:59 p.m., New York, NY Time, on such date, a copy of an executed notice of conversion in the form attached hereto as Exhibit A (the "Conversion Notice") to the Company. On or before the third Business Day following the date of receipt of a Conversion Notice (the "Share Delivery Date"), the Company shall (A) if legends are not required to be placed on certificates of Common Stock pursuant to the then existing provisions of Rule 144 of the Securities Act of 1933 (“Rule 144”) and provided that the Transfer Agent is participating in the Depository Trust Company's ("DTC") Fast Automated Securities Transfer Program, credit such aggregate number of shares of Common Stock to which the Holder shall be entitled to the Holder's or its designee's balance account with DTC through its Deposit Withdrawal Agent Commission system or (B) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and deliver to the address as specified in the Conversion Notice, a certificate, registered in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder shall be entitled which certificates shall not bear any restrictive legends unless required pursuant the Rule 144. If this Note is physically surrendered for conversion and the outstanding Principal of this Note is greater than the Principal portion of the Conversion Amount being converted, then the Company shall, upon request of the Holder, as soon as practicable and in no event later than three (3) Business Days after receipt of this Note and at its own expense, issue and deliver to the holder a new Note representing the outstanding Principal not converted. The Person or Persons entitled to receive the shares of Common Stock issuable upon a conversion of this Note shall be treated for all purposes as the record holder or holders of such shares of Common Stock upon the transmission of a Conversion Notice.