Banking of Overtime - Compensatory Leave Sample Clauses

Banking of Overtime - Compensatory Leave. The Employee shall be paid for overtime except where, upon request of an employee and with the approval of the Manager, overtime shall be compensated by leave with pay. The duration of such leave shall be equal to the overtime worked multiplied by the applicable overtime rate. Payment of such leave shall be at the employee’s regular straight-time rate of pay in effect on the date immediately prior to the date on which the leave is taken. A maximum of 40 hours total may be banked on a 12 month basis to be used as time off in lieu. If any portion of this leave cannot be utilized by the employee by December 1st of each year, then payment in cash will be made at the employee’s then current regular rate of pay.
AutoNDA by SimpleDocs

Related to Banking of Overtime - Compensatory Leave

  • Special Compensatory Leave (A) Earning of Special Compensatory Leave Credits. Special compensatory leave credits may be earned only in the following instances:

  • Compensatory Leave At the employee's option, all or part of compensatory leave balances held at the beginning of active military duty may be:

  • Overtime/Compensatory Time Overtime shall be paid for all hours worked in excess of the regularly scheduled workday. Compensatory time may be earned, in lieu of overtime, for overtime hours or hours earned under 18.7 or 18.8 of this article. In no case will compensatory time be allowed, in lieu of overtime once the employee has reached the compensatory time limit in 18.10.

  • HOLIDAY COMPENSATION FOR TIME WORKED 126. Employees required by their respective appointing officers to work on any of the above specified or substitute holidays, excepting Fridays observed as holidays in lieu of holidays falling on Saturday, shall be paid extra compensation of one additional day's pay at time- and-one-half the usual rate in the amount of 12 hours pay for 8 hours worked or a proportionate amount for less than 8 hours worked provided, however, that at the employee's request and with the approval of the appointing officer, an employee may be granted compensatory time off in lieu of paid overtime as provided for elsewhere in this contract. 127. Executive, administrative and professional employees designated in the Annual Salary Ordinance with the "Z" symbol shall not receive extra compensation for holiday work but may be granted time off equivalent to the time worked at the rate of-one-and-one-half times for work on the holiday.

  • Banking of Overtime (i) Tour Workers who work in excess of eight (8) consecutive hours shall have the option of receiving the overtime premium on the basis of this Section or of receiving straight time for hours in excess of eight (8) consecutive hours and taking equivalent time off in units of not less than four (4) hours at the hourly rate for the job when the work was performed, at a time suitable to the employee and the Company during the contract year. Any overtime remaining at the end of the contract year in which it is banked may be carried over to the next contract year for purposes of taking equivalent time off. If equivalent time off is not taken by the end of the contract year following the contract year in which it is earned, the Company shall pay the deferred one-half premium pay. Tour Workers who choose to bank overtime may later re-elect to receive the deferred one-half premium pay.

  • Overtime Compensation (a) Overtime worked shall be compensated at the following rates:

  • Compensatory Time for Overtime Eligible Employees A. Compensatory Time Eligibility Compensatory time off may be earned in lieu of cash only when an institution and the employee agree. Compensatory time must be granted at the rate of one and one half (1-1/2) hours of compensatory time for each hour of overtime worked.

  • Holiday Overtime An employee required to work on any of the above-named holidays will be paid holiday pay plus payment for the number of hours worked at the rate of time and one-half (1-1/2) his regular straight time rate of pay.

  • Compensation for Overtime 9.5.1 All overtime hours, except those overtime hours exceeding twelve (12) hours in one day, shall be compensated at a rate of pay equal to time and one-half the regular rate of pay of the employee. Those overtime hours exceeding twelve (12) in one day shall be compensated at a rate of pay equal to two times the regular pay of the employee.

  • Eligibility for Overtime Compensation (a) Overtime compensation rates for all hours worked in excess of the workday and workweek identified below shall be as follows:

Time is Money Join Law Insider Premium to draft better contracts faster.