Banking Overtime Hours Premium Sample Clauses

Banking Overtime Hours Premium. Employees have the option of banking the premium portion of overtime hours worked, rather than being paid in the normal manner for such portion, to a maximum of forty (40) hours. Equivalent time off in lieu of payment shall be taken at a time mutually agreed to by the Company and the individual employee. Employees wishing to take this opinion must notify the Company in writing, within thirty (30) days of their preferred dates for time off. In the event that the banked time is not used prior to December 31 of any year, the employees shall be paid for it at the applicable hourly rate existing when the time was worked. It is understood that regularly scheduled annual vacations shall take priority over this option. Seniority and efficiency of the operations shall govern in the scheduling of the equivalent time off.
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Related to Banking Overtime Hours Premium

  • Daily Overtime All employees shall be paid the applicable overtime rate of time and one-half (1-1/2) for all time worked in excess of eight (8) hours per day.

  • Weekly Overtime An Employee required to work in excess of forty (40) hours per week shall be paid at the rate of time and one-half (1 1/2) for the first eight (8) hours of work in excess of the forty (40) hours and double time thereafter.

  • 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.

  • Overtime Hours Except as otherwise provided in this section, all hours worked in excess of the established work day, before or after an employee's regular scheduled shift, or on any regularly scheduled day off, shall be considered overtime. All paid vacation time, paid holidays, paid sick leave, compensatory time off, and paid leaves of absence shall be considered as "time worked" for purposes of this Article. Part-time employees whose established work day is less than eight (8) hours shall not be considered to be working overtime until having completed eight (8) hours of work.

  • Night Shift Premium Any employee who is required to work on any day when the majority of their working hours fall between 10.00 p.m. and 5.00 a.m., or who starts their shift prior to 5.00 a.m., shall be paid a premium, in addition to their regular, hourly rate, of one dollar and twenty-five cents ($1.25) per hour for all hours worked on the shift. Shift premium pay shall not be added to an employee’s hourly rate for the purpose of computing overtime. This clause shall not result in duplication of premiums.

  • Overtime Premium (a) Employees shall be entitled to payment of time and one-half (1-1/2X) the employee's basic straight time hourly rate for all authorized overtime work in excess of seven and one-half (7-1/2) hours in a tour of duty or in excess of the average full-time hours of work over the period scheduled by the Hospital. Such period for this purpose shall not exceed two (2) weeks. It is understood that no overtime will be paid where the time worked was a result of an exchange at shifts between employees. Overtime shall be distributed as equally as practical among those employees normally performing the type of work to be done on overtime. Notice of overtime work shall be given as soon as practically possible. It is understood and acknowledged that the Hospital has the right to require employees to perform reasonably authorized overtime work. Call-back shall not be considered as hours worked for purposes of this Article. Overtime premium will not be duplicated nor pyramided nor shall other premiums be duplicated nor pyramided nor shall the same hours worked be counted as part of the normal work week and also as hours for which the overtime premium is paid. Where an employee is required to work additional overtime contiguous to an overtime shift within a twenty-four (24) hour period, the employee will be compensated at the rate of double time his or her straight time hourly rate for all additional contiguous overtime hours worked.

  • Overtime Premiums All time worked before or after the regularly established working day shall be considered overtime and be paid for at one hundred and fifty (150%) percent of the employee's pro- rated hourly rate for the first two (2) hours and double the employee's regular hourly rate for each hour worked thereafter.

  • Payment for Working Overtime on a Holiday Where an employee is required to work authorized overtime in excess of his regularly scheduled hours on a paid holiday, such employee shall receive twice (2x) his regular straight time hourly rate for such authorized overtime.

  • EQUALIZATION OF OVERTIME HOURS 211 Overtime hours shall be divided as equally as practicable among employees in the same classification in their district. An up-to-date list showing overtime hours and unit seniority date will be posted in a prominent place in each district before the 15th of each month. -212 Whenever overtime is required, the person with the least number of overtime hours in that classification within the district will, except in necessary emergencies, be called first and so on down the list in an attempt to equalize the overtime hours. After exhausting this procedure and the need still exists, the Employer may require the least senior available, qualified employee to work. The Union reserves the right to grieve what is an emergency. Employees in other classifications may be called if there is a shortage of employees in the classification needed. In such cases they would be called on the basis of least hours of overtime in their classification provided they are capable of doing the work. When employees are notified by telephone, they will be called in order of lowest hours first. -213 For the purpose of this clause, time not worked because the employee was unavailable, or did not choose to work, will be charged the average number of overtime hours of the employees working during that overtime period (2 hour minimum). -214 On July 1 each year, the amount of overtime hours credited to each employee will be reduced equal to the amount of overtime hours credited to the employee at the bottom of the overtime list and only the excess overtime hours for each employee shall be carried forward. -215 An employee who has changed classifications will be charged with the highest number of overtime hours that exist in the new classification on the day he/she was reclassified. -216 When an employee terminates his/her term as Chief Xxxxxxx, President, Xxxxxxx, or Alternate Xxxxxxx, his/her overtime hours shall be disregarded and he/she shall assume the average number of hours in his/her classification in his/her district, unless he/she is currently charged with less than average hours. ARTICLE 44 - LONGEVITY PAY -217 All regular employees of the Employer hired prior to August 19, 1996 shall be entitled to receive longevity pay for length of continuous service with the Employer according to the following rules and schedule of payment. -218 LONGEVITY YEAR The longevity year is defined as the twelve (12) month period beginning October 1 of each year and ending September 30. For longevity payment purposes only, a year of continuous full-time service is defined as any longevity year in which the employee is actively employed for at least 39 calendar weeks (273 calendar days). -219 Longevity pay shall be computed as a percentage of the employee's regular annual base wage. Base wage shall be that wage which an employee is being paid on September 1, 1988, of the calendar year in which the longevity payment is due. The annual base wage shall be equal to the employee's hourly rate times 2080 hours as of the first pay period in September. If an employee is not on the payroll at that time, the hourly rate to be used will be the hourly rate upon his/her return. Base wage shall not include overtime or premium pay. -220 INITIAL ELIGIBILITY The last date of hire as a regular employee will be used as the normal longevity date. To qualify for the first longevity payment, an employee must have completed six (6) years of continuous service as of October 1 of any year. To qualify for initial eligibility, the employee must have been on active employment for at least 39 calendar weeks (273 calendar days) for six (6) consecutive years and an employee on October 1 of that year to receive the longevity payment. Periods of active employment of less than 39 calendar weeks will be counted toward the employee's years of continuous service. -221 CONTINUING ELIGIBILITY After establishing initial eligibility, employees must be actively employed for 39 calendar weeks (273 calendar days) during the longevity year and an employee as of October 1 to receive the longevity payment on December 1. Periods of active employment of less than 39 calendar weeks, while not qualifying the employee for payment of longevity, shall be counted toward the employee's years of continuous service. -222 Payments to employees who are eligible each October 1 will be paid on December

  • Overtime Holidays Double time the regular rate for work on the following holiday(s). New Year's Day

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