Common use of BANKING OF AUTHORIZED OVERTIME Clause in Contracts

BANKING OF AUTHORIZED OVERTIME. When an employee is required to work overtime he/she may, if the Employer agrees, elect to receive time off instead of payment to a maximum accumulation of forty (40) hours at any point during the fiscal year. Such time off shall be equivalent in hours to the pay for such overtime that would have been calculated under Clause 12.

BANKING OF AUTHORIZED OVERTIME. When an employee is required to work overtime he/she may, if the Employer agrees, elect to receive time off instead of payment to a maximum accumulation of forty twenty-five (4025) hours working days at any point during the fiscal year. Such time off shall be equivalent in hours to the pay for such overtime that would have been calculated under Clause 12.