Time Off in Lieu of Pay. 1) Employees may, with the concurrence of their Department Head, at their option, receive time off for overtime worked in lieu of pay. This time off would be at time and one-half off for time and one-half worked. 2) This time off may be banked up to a maximum of one week’s hours based on the employees regularly scheduled working hours. For employees who work forty (40) hours per week, up to forty (40) hours of overtime may be banked. For employees who work thirty-five (35) hours per week, thirty-five (35) hours may be banked. Banked overtime may be used when convenient to the employee subject to the approval of the Corporation. Applications for use of “Banked Overtime” shall be submitted by the employee on the form “Application for Leave”.
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Sources: Collective Agreement, Collective Agreement