Banked Lieu Time Clause Samples
The Banked Lieu Time clause establishes an employee's right to accumulate paid time off in lieu of receiving overtime pay. Under this clause, when employees work hours beyond their regular schedule, instead of being paid overtime wages, they can choose to "bank" those extra hours as time off to be taken at a later date. This arrangement provides flexibility for both employers and employees, allowing employees to manage their work-life balance while enabling employers to control overtime costs. The core function of this clause is to offer an alternative to immediate overtime compensation, addressing both operational needs and employee preferences.
Banked Lieu Time. The Employer shall make overtime cash payments, unless the employee notifies the Employer in writing of their desire to take overtime as time off in lieu. Lieu time shall be banked to a maximum of eighty (80) straight time hours and shall be taken at a time mutually agreed to by the Employer and the employee. Hours withdrawn cannot be replaced in any year. All lieu time accumulated up to 30 November will be paid out in the first payroll in December, with the exception of lieu days already scheduled for December. All overtime worked between 1 December and 31 December will be paid at the applicable premium rate, unless the Employee chooses to schedule such overtime for the last week of December. __________
Banked Lieu Time. That banked lieu time would be extended from two (2) days to four
Banked Lieu Time. The Employer shall make overtime cash payments, unless the employee notifies the Employer in writing of their desire to take overtime worked as time off in lieu. Lieu time shall be banked to a maximum of eighty (80) straight time hours and shall be taken at a time mutually agreed to by the Employer and the employee. Hours withdrawn cannot be replaced in any year. All lieu time accumulated up to 30 November will be paid out in the first payroll in December. All overtime worked between 1 December and 31 December will be paid at the applicable premium rate.
Banked Lieu Time. Time off in lieu may be banked to a maximum of the equivalent of forty
Banked Lieu Time. Overtime & Fire Academy
Banked Lieu Time