Flexible working hours system. In case of a reference period less than or equal to 1 month, the following will also be considered as overtime within the meaning of articles "L. 211-18" 1 et seq. of the Luxembourg Labour Code: • additional hours that exceed the number of hours carried forward to the reference period; • hours already carried forward once.
Flexible working hours system. A. Special features of the system Flexitime Flexitime allows employees to manage their schedules in accordance with their wishes and personal constraints, provided they comply with operational requirements and the reasonable wishes of other employees. Flexitime working hours are subject to upper and lower limits. Lower limits are to be set by individual insurance companies while upper limits must not exceed 10 hours per day and 48 hours per week. However, daily and weekly working hours only constitute average values which are 40 hours per week and, assuming that work is distributed over five days, 8 hours per day. Since employees are responsible for properly performing the duties assigned to them, they are also responsible for managing their working hours in consultation with their head of department and thus compensating for any surpluses and deficits in working hours occurring over the course of a single reference period, which is described in further detail hereafter. In the absence of a working hours management system, each employee may complete a weekly time sheet showing the hours they have worked, which is endorsed by their line manager. Employees are entitled to organise their lieu time as they deem fit, provided they comply with operational requirements and the reasonable wishes of other employees. They are notably worked out as: • hours per day • half-days • full days • grouped days Given that periods of compulsory attendance differ among insurance companies, lieu time must be taken in accordance with the rules agreed with the staff delegation. For half-day based or longer lieu time, employees must issue a written request to their line managers using a form intended for this purpose. Any rejections must be justified within a reasonable period of time that must not exceed 5 working days. Lieu time is organised with a view to balancing any working hour surpluses and deficits at the end of a reference period, where possible. Reference period The reference period is fixed at 6 months, following consultation with the staff delegation. A report indicating overall balances of working hours by department is issued to the staff delegation at the end of each month. In the absence of a working hours management system, this report is produced at the end of the 3rd and 5th month of each half-yearly reference period. At the end of the period, an individual count is performed to identify hours exceeding the weekly average of 40 hours (credits) and any hours bel...
Flexible working hours system. After the Closing, during the period when they hold office in the Group Companies and/or their Affiliates, the Founders shall make their best efforts to assist the Group Companies in obtaining approval documents from competent labor authorities for their implementation of flexible working hours system.
