Banking Overtime and Time Off in Lieu Sample Clauses

Banking Overtime and Time Off in Lieu. Instead of a cash payment for overtime, an employee may choose to bank overtime hours, at the applicable overtime rate, to a maximum of three hundred (300) hours at any one time. Such hours may later be withdrawn from the bank as a cash payment or in time off at a time mutually agreed upon by each party. Any employee who has reached the maximum number of hours allowed in the bank (300) will not be allowed to bank additional hours until their balance is below the three hundred (300) hour maximum limit. Any employee who has reached that maximum number of hours in the bank (300), and who works overtime, may take time off in lieu of cash payment, provided it is mutually agreed upon. Such time must be taken within the pay period that the overtime is worked.
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Related to Banking Overtime and Time Off in Lieu

  • Time Off in Lieu of Overtime Employees who work overtime will not be required to take time off in regular hours to make up for overtime worked. Time off in lieu may be taken on a mutually agreed upon basis between the employee and the Hospital, such time off will be the equivalent of the premium rate the employee has earned for working overtime. The Hospital shall revert to payment of premium rate if time off is not taken within sixty (60) calendar days."

  • Time Off Between Shifts Failure to provide the minimum number of hours between the commencement of an employee's scheduled shift and the commencement of such employee's next scheduled shift shall result in payment of one and one-half (1½) times the employee's regular straight time hourly rate for only those hours which reduce the minimum hour period. Where the minimum period is reduced as a result of an approved change of shift(s) requested by the employee(s), such premium payment shall not apply. The minimum number of hours for purposes of this Article shall be determined locally and will be set out in the Local Provisions Appendix.

  • Annual Leave Loading During a period of annual leave an employee will receive a loading of 17.5 per cent calculated on the employee’s normal hourly rate of pay and the daily fares allowance if applicable. The loading will also apply to proportionate leave on lawful termination.

  • Rate and Time of Payment Unless otherwise specified, Buyer shall make payment to Seller for the goods within 30 days after the goods are received by Buyer.

  • Manner and Time of Payment All payments by Company of principal, interest, fees and other Obligations hereunder and under the Notes shall be made in Dollars in same day funds, without defense, setoff or counterclaim, free of any restriction or condition, and delivered to Administrative Agent not later than 12:00 Noon (New York City time) on the date due at the Funding and Payment Office for the account of Lenders; funds received by Administrative Agent after that time on such due date shall be deemed to have been paid by Company on the next succeeding Business Day. Company hereby authorizes Administrative Agent to charge its accounts with Administrative Agent in order to cause timely payment to be made to Administrative Agent of all principal, interest, fees and expenses due hereunder (subject to sufficient funds being available in its accounts for that purpose).

  • Time Off in Lieu By mutual agreement between the Employer and the employee, the employee may take time off, calculated at the appropriate overtime rate, in lieu of overtime pay.

  • Vacation and Paid Time Off The Executive shall be entitled to vacation and paid time off in accordance with the standard policies of the Company for executives as in effect from time to time.

  • Paid Time Off (PTO) During the Term, Executive shall be entitled to paid time off in accordance with Company’s policy in place from time to time; provided, however, that Executive shall be eligible to accrue no less than twenty (20) days per calendar year (with such amount prorated for the balance of 2017).

  • Sick Time An employee shall have all of his/her accrued sick leave credits transferred when the employee is transferred to a different State agency.

  • Minimum Break between Shifts (a) Where it is necessary to work extended overtime, it is agreed that no Employee shall resume or continue to work without having had ten consecutive hours off duty between the termination of the overtime and the commencement of the Employee’s ordinary work on the next day or shift. (b) In the event that an Employee agrees to a request from site management to resume or continue to work without having had ten consecutive hours off duty, the Employee shall be paid at double ordinary time rates until the Employee is released from duty for such period.

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