Common use of Lieu Bank Clause in Contracts

Lieu Bank. Subject to there being mutual agreement between the employee and the Division Head an employee may receive compensation for overtime worked in the form of time off in lieu of pay, at the rate of one and one-half (1 ½) hours off for each hour of overtime worked provided that the lieu time accumulated for both overtime work and work on designated holidays as provided in Article 10, does not exceed 96 hours at any one time. The ninety-six (96) hours is replenishable.

Lieu Bank. Subject to there being mutual agreement between the employee and the Division Head an employee may receive compensation for overtime worked in the form of time off in lieu of pay, at the rate of one and one-half (1 ½) hours off for each hour of overtime worked provided that the lieu time accumulated for both overtime work and work on designated holidays as provided in Article 10, does not exceed 96 hours at any one time. The ninety-ninety- six (96) hours is replenishable.