Accumulation of Overtime Hours Sample Clauses

Accumulation of Overtime Hours. An employee may, over the course of the calendar year, accumulate his overtime hours to a total of two (2) weeks per year at his regular scheduled rate that he can take as compensatory leave. It is understood that when an employee accumulates overtime hours over the course of a calendar year, the employee cannot accumulate hours, anew, to rebuild his bank of hours. The employee must inform the Director and obtain her approval before the coming into force of the leave when he wants to take a compensatory leave. The decision to grant the request, or not, falls to the Director. It is understood that the compensatory time, accumulated and not taken by December 31 of each year, will be paid at the salary rate at which it was earned by the employee.

Accumulation of Overtime Hours. Accumulated overtime shall be recorded in a single overtime bank for each employee, with the total overtime accumulation at any given time being the dollar value of the current hours of banked overtime. All overtime accumulated in excess of one hundred (100) hours will be paid out. Unused banked time will be carried forward to subsequent calendar years as long as overall accumulation does not exceed one hundred (100) hours at any given time. Overtime worked may be accumulated in dollars and taken as time off or may be paid. Each employee shall notify the Employer of their election by indicating “pay overtime” or “bank overtime” on biweekly timesheets. Time off in lieu of overtime shall normally be arranged by mutual agreement between the Employer and the employee provided that the Employer is able to retain an adequate and competent staff to meet the normal requirements of the Employer. the bank is not reduced to 100 hours by June 30th, 2005, any amounts exceeding this limit will be paid out on the next regular payroll.)