Alternate Holiday Time Bank. (1) In lieu of payment in cash at the overtime rate for hours worked on a holiday as specified in Article 10, Section 2.B.2 or 4, an employee may request that such compensation be made in the form of Alternate Holiday Time. In lieu of payment in cash at straight time for holidays on which an employee does not work as specified in Article 10, Section 2.B.1 or Section 2.B.2(c), an employee may designate that such holiday compensation be made in the form of Alternate Holiday Time. When compensation for a holiday is made in the form of Alternate Holiday Time, the Alternate Holiday Time shall be placed in the employee’s Alternate Holiday Time Bank. (2) The maximum amount of Alternate Holiday Time that may be accumulated is two hundred forty (240) hours. When the balance of an employee’s Alternate Holiday Time Bank is at two hundred forty (240) hours, no more Alternate Holiday Time may be accumulated. (3) An employee may liquidate his/her Alternate Holiday Time Bank during the term of his/her employment by taking time off. When an employee desires to liquidate Alternate Holiday Time by taking time off, such requests will be liquidated at a time mutually agreeable to the employee and his/her supervisor under the same terms and conditions that govern requests for vacation time off. (4) An employee’s Alternate Holiday Time Bank shall be liquidated by cash payment upon an employee’s separation from employment at the employee’s straight time hourly rate in effect at the time of separation.
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
