Overtime and Banked Time Off a) For the purposes of calculating overtime the following factors shall be applied to regular full time employees on a thirty‐five (35) hour work week:
Overtime and Banked Time Off Sample Clauses
Related to Overtime and Banked Time Off
Paid Time Off The Executive shall be entitled to take paid time off in accordance with the Company’s applicable paid time off policy for executives, as may be in effect from time to time.
Banked Time Overtime & Time Balancing Overtime is earned when the Company requests an employee to work overtime. Banked straight time is earned when an employee requests approval to work additional hours for the purpose of accruing time for time balancing purposes, there is an operational requirement for the work to be done, and the Manager approves the banked straight time in advance. Employees shall have the choice of having their authorized overtime paid out or accrued as per Articles 21.02 and 21.03 in a renewable time bank, subject to the following conditions:
Paid Time Off (PTO) Executive shall earn and accrue paid-time-off covering vacation and sick time benefits at the rate of twenty (20) days per year for employment periods of up to five years of service. The PTO accrual rate shall automatically increase by five (5) additional days for each additional 5 years of service up to maximum of thirty (30) days per year after 10 years of service. For example, after five years of service, the annual PTO accrual rate shall increase to twenty-five (25) days. Unused PTO shall carry over to the next year, but Executive shall cease accruing further PTO at any time Executive has accrued two times his annual accrual rate. Unused PTO days which are not in excess of two-times the annual accrual rate shall be paid in a cash lump sum payment promptly after Executive’s termination of employment.
Unpaid Time Off All accruals must be exhausted prior to taking unpaid time off (unless eligible for EIT access).
Workday/Workweek A. The normal workweek for each full-time employee shall be forty (40) hours.
Unworked Holidays Eligible employees shall receive pay equal to their normal work shift at their base rate in effect at the time the holiday occurs. An employee who is on the active payroll on the holiday and has worked both the last scheduled shift preceding the holiday and the first scheduled shift succeeding the holiday shall be eligible for pay for such unworked holiday. An exception to this requirement will occur if the employee(s) can furnish proof, satisfactory to the District that because of illness they were unable to work on either of such shifts, and the absence previous to such holiday, by reason of such illness, has not been longer than 30 regular workdays, and they received sick pay for the day(s) missed.
Overtime Lieu Time Where an employee has worked an accumulated approved overtime hours (other than overtime hours related to paid holidays) such employee shall have the option of electing payment at the applicable overtime rate or time off equivalent to the applicable overtime rate (i.e. where the applicable rate I time and one-half, then time off shall be at one and one-half times. Where an employee chooses the latter option, such time off must be taken within the succeeding two pay periods of the occurrence of the overtime at a time mutually agreeable to the Hospital and the employee, or payment in accordance with the former option shall be made. An employee shall not be required to take time off to avoid payment of overtime.
OVERTIME AND HOLIDAYS 5.1 An Employer may require employees to perform work in excess of their regularly assigned hours. All time worked by an employee before and after his regular shift on Monday to Friday inclusive, except as provided in Article 4 and all hours worked on Saturday and Sunday shall be paid for at the rate of double time. Double time shall continue for all hours worked until the employee has had eight (8) consecutive hours off or longer if mutually agreed to by the employer and the employee.
Sick Time An employee shall have all of his/her accrued sick leave credits transferred when the employee is transferred to a different State agency.
Holiday Worked In addition to Subsection A above, employees will be compensated for the hours actually worked on a holiday at the overtime rate, in accordance with Article 17, Overtime.
