Common use of Banked Hours Clause in Contracts

Banked Hours. A maximum of one hundred and twenty (120) hours of earned overtime may be accrued as banked hours and may be withdrawn in whole or in part at their regular rate in time off, to be taken at a mutually agreeable time. Seven (7) days notice of intent to withdraw banked hours must be given to Management. Employees leaving the service of the Employer shall be paid out all remaining hours in their overtime bank.

Banked Hours. A maximum of one hundred and twenty (120) hours of earned overtime may be accrued as banked hours and may be withdrawn in whole or in part at their regular rate in time off, to be taken at a mutually agreeable time. Seven (7) days notice of intent to withdraw banked hours must be given to Management. Employees leaving the service of the Employer shall be paid out all remaining hours in their overtime bank.

Banked Hours. A maximum of one hundred and twenty (120) hours of earned overtime may be accrued as banked hours and may be withdrawn in whole or in part at their regular rate in time off, to be taken at a mutually agreeable time. Seven (7) days days’ notice of intent to withdraw banked hours must be given to Management. Employees leaving the service of the Employer shall be paid out all remaining hours in their overtime bank.