Common use of Eligibility for Compensation Clause in Contracts

Eligibility for Compensation. 6.3.1 All full time salaried employees are eligible to be compensated financially at the overtime rate(s) or to bank hours in lieu of equal time off at time and one half or double time (dependent on how the hours were earned) for all hours worked, as outlined in Article 6.4. Employees must elect to bank hours or receive overtime pay at the time the hours are earned. The number of hours banked are not to exceed 35 hours (or 37.5 or 40 depending on the employee’s work week) at any point in time. For the purpose of calculating the maximum number of lieu time hours placed in the bank, overtime hours (hours worked multiplied by 1.5 or 2 as defined in Article 6.4) will be converted prior to being placed in the lieu time bank. Any hours in excess of 35, 37.5 or 40 hours will be paid out at the employees’ next pay. Banked hours can be carried from year to year upon approval by management. Employees may request payment of banked lieu time hours at any time throughout the calendar year. Payments made to the employee by the Corporation will be paid at the wage rate in effect at the time the overtime was worked. All hours in an employees’ lieu time bank must be taken or paid out, if the employee transfers to a new division of the Town unless approval from the new division is granted.

Eligibility for Compensation. 6.3.1 All full time salaried employees are eligible to be compensated financially at the overtime rate(s) or to bank hours in lieu of equal time off at time and one half (1.5) or double time (dependent on how the hours were earned) for all hours worked, as outlined in Article 6.4. Employees must elect to bank hours or receive overtime pay at the time the hours are earned. The number of hours banked are not to exceed 35 70 hours (or 37.5 or 40 80 depending on the employee’s two week work weekperiod) at any point in time. For the purpose of calculating the maximum number of lieu time hours placed in the bank, overtime hours (hours worked multiplied by 1.5 or 2 as defined in Article 6.4) will be converted prior to being placed in the lieu time bank. Any hours in excess of 35, 37.5 70 or 40 80 hours will be paid out at the employees’ next pay. Banked hours can be carried from year to year upon approval by management. 2016 Employees may request payment of banked lieu time hours at any time throughout the calendar year. Payments made to the employee by the Corporation will be paid at the wage rate in effect at the time the overtime was workedof their permanent classification. 2016 All hours in an employees’ lieu time bank must be taken or paid out, if the employee transfers to a new division of the Town unless approval from the new division is granted.