Common use of Banking Overtime Clause in Contracts

Banking Overtime. All employees who are required to work overtime shall elect at the time of working such overtime whether to be paid for it or instead to receive compen- sating time off in lieu. An employee who elects to receive compensating time off, shall be credited with compensating time off equivalent to the number of hours which would have been paid for the overtime worked, and, subject to an employee's request to be granted compensating time off being approved by the employee's Department Head (or delegate), such employee shall be granted any portion of the compensating time off at the rate or rates in effect at the time the overtime in question was worked. All compensating time off credited during a particular calendar year but which has not been granted to an employee by March 31st of the immediately following year shall be paid in cash at that time at the pay rate or rates in effect at the time the overtime in question was worked.

Banking Overtime. All employees who are required to work overtime An employee shall elect at the time of working such overtime whether to be paid for it or instead to receive compen- sating compensating time off in lieu. An employee who elects to receive compensating time off, shall be credited with compensating time off equivalent to the number of hours (which shall be converted to a dollar amount for accounting purposes) which the employee would have been paid for the overtime worked, and, subject to an employee's request to be granted compensating time off being approved by the employee's Department Head (Chief Librarian or delegate)designate, such employee shall be granted any portion of the credited compensating time off at the pay rate or rates in effect at the time the overtime in question was worked. All compensating time off credited during a particular calendar year but which has not been granted to an employee by March 31st of the immediately following year shall be paid in cash at that time at the pay rate or rates in effect at the time the overtime in question was worked.

Banking Overtime. All employees who are required to work overtime shall elect at the time of working such the overtime whether to be paid for it or instead to receive compen- sating compensating time off in lieu. An employee who elects to receive compensating time off, shall be credited with compensating time off equivalent to the number of hours which would have been paid for the overtime worked, and, subject to an employee's request to be granted compensating time off being approved by the employee's Department Head (or delegate), such employee shall be granted any portion of the compensating time off at the rate or rates in effect at the time the overtime in question was worked. All compensating time off credited during a particular calendar year but which has not been granted to an employee by March 31st of the immediately following year shall be paid in cash at that time at the pay rate or rates in effect at the time the overtime in question was worked.