Banked Overtime. (a) Compensating time off shall not be given in lieu of overtime pay unless the employee so chooses. Employees who wish to bank overtime must confirm same in writing to the Company between March 1st and March 15th and again between September 1st and September 15th of each calendar year. Employees shall be entitled to cancel their decision to bank overtime at any time. In such cases, the employee shall provide the Company with a written notice confirming same, and shall not be eligible to resume banking overtime until the following March 1st or September 1st, as the case may be.
(b) Accumulated banked overtime hours shall be shown on the employee's weekly pay stub until implementation of the Workbrain System, at which point such information will be available for review through that System.
(c) Banked overtime shall accumulate at the rate of one and one-half (1½) or two (2) hours of paid time off, as the case may be, for each hour of overtime worked. Employees shall only bank overtime exceeding one (1) hour. If overtime worked does not exceed one hour, such overtime shall be paid out.
(d) Employees shall have the option of cashing in all or any portion of said banked overtime at any time he or she chooses. Banked overtime that is subsequently cashed in by an employee shall be paid to the employee at the regular hourly rate of pay said employee was being paid at that time. All banked overtime must be used or cashed in by the end of the calendar year in which it was earned, unless otherwise mutually agreed to between the employee concerned and the Company. Separate cheques will not be issued for banked overtime but, when paid out, the banked overtime amount will be itemized separately on the employee’s pay record.
(e) Subject to the following paragraph, each employee shall decide when his or her compensating time off is to be taken except that no such time off can be taken on the working day immediately preceding and following a general holiday without the prior approval of the Company. Compensating time off shall be granted to employees on a first come first served basis. Seniority shall only apply and be the governing factor in situations where on the same day, too many employees put in a request to take compensating time off at the same time. A maximum of four (4) employees per day shall be entitled to use their banked overtime. These amounts may be increased from time to time at the discretion of the Company.
(f) All banked time off requests must be submit...
Banked Overtime. In the event the day in lieu of working the statutory holiday is not provided as stipulated in 8.01.04, this portion may also be banked.
Banked Overtime. (a) Where mutually agreed by the Employer and the Employee, the Employee may receive time off in lieu of overtime (banked overtime). Banked overtime shall be equivalent to the actual time worked multiplied by the applicable overtime rate. Banked overtime may be taken as time off at a time mutually agreed by the Employee and the Employer. Overtime may be banked to a maximum of forty (40) hours at any one time; any overtime in excess of forty (40) hours shall be paid as it is earned. Banked overtime must be taken as time off or paid out by March 31st of each calendar year.
(b) Failing mutual agreement in accordance with clause 19.07(a), the Employer shall pay overtime at the applicable overtime rate.
Banked Overtime. Employees shall be allowed to accrue banked overtime up to a maximum of four hundred thirty-two (432) hours at the end of any pay period. At the end of the fiscal year, the Department may cash out banked overtime in excess of two hundred sixteen (216) hours. In accordance with the FLSA, no employee shall lose banked overtime. Employees shall be permitted to take banked overtime upon request unless granting such time would “unduly disrupt” the operations of the Department.
Banked Overtime. The parties hereby agree that, notwithstanding the provisions of this Article, employees shall be permitted to accumulate overtime credits in lieu of cash payment, such leave to be equal to the appropriate overtime cash rate. Overtime credits not used within a school year shall be carried forward for a maximum of one (1) school year. Such leave shall be taken at times mutually agreed between the Employer and the employee and shall not interfere with the efficient operation of the school district. This clause shall be administered in accordance with policies determined locally between the school districts and the Local.
Banked Overtime. (a) All regular employees may bank overtime hours at overtime rates to a maximum of forty (40) hours of straight time per calendar year (e.g. 26.67 hours of overtime equals 40 hours of straight time), instead of receiving cash payment, for the purpose of taking paid banked time off.
(b) Regular employees must indicate if they wish to bank overtime for this purpose by the end of January of each year. Regular employees may opt out at any time during the calendar year in which the overtime is being accumulated, but may not after December 31st of that year.
(c) Banked time will be earned throughout the current calendar year. Banked time off is to be taken in the following calendar year.
(d) With the exception of employees in the Maintenance and Equipment Department, time off will be taken in five consecutive days with no breakup into individual days.
(e) The number of employees eligible will be limited to increments of 6employees in Operations and 4 servicepersons who can be accommodated with time off during the pick process.
(f) For those who signed up and cannot be accommodated for banked time off because of insufficient banked hours (must have banked 40 hours at straight time), pay-out will occur as soon as possible in the new year. For those who signed up and cannot be accommodated for lieu time because the increment criteria has not been met, pay-out will occur as soon as possible following the pick process.
Banked Overtime. Employees will be allowed to bank a maximum of eighty (80) cumulative hours, at their regular hourly rate, of overtime per calendar year. The Company will, subject to the requirements of the business, grant time off to employees which will be paid out of the employee’s banked overtime. Upon two (2) weeks’ notice, the employees may request to be paid out all monies in their overtime bank to be included in their next payroll cheque. In any event, all employees banked overtime balances will be reduced to zero by payment on their payroll cheque at each calendar year-end or when they leave the Company.
Banked Overtime. In lieu of pay for overtime an employee may elect to put the hours at the appropriate overtime multiple into banked time. Banked time may be taken later as time off at a time satisfactory to the District; or paid out on request. Banked time shall not exceed 144 hours at any one time. Employees may request a maximum of ONE (1) separate cheque per year.
Banked Overtime. An employee may choose to bank any portion of their overtime hours.
a) An employee may have no more than the equivalent of sixty (60) overtime hours (120 regular hours) in their bank at any given time.
b) An employee may request that any portion of their Banked Overtime be paid out on a regular pay date in accordance with established payroll deadlines.
c) Any hours banked and not taken prior to December 31st in any year shall be paid out to the employee at the rate at which the hours were banked.
Banked Overtime. Employees may request to have overtime banked by the Company. Time off in lieu of payment to be taken at a time mutually agreed to by the Company and the employee. In the event that banked overtime is not used prior to December 31 of any year, payment will be made of the balance at the applicable rate of earnings in force at the time the overtime was worked.
