Payout of Leisurebank Sample Clauses

Payout of Leisurebank. Leisurebank hours may subsequently be paid out as cash from an employee’s Leisurebank, if specifically requested in writing by the employee. The amount paid out will be at the same hourly rate which existed at the time the overtime was initially worked. In addition, the amount paid shall be “grossed-up” for the overtime hours, such that the amount subsequently paid is equal to the amount which would have been paid if the overtime had originally been taken as overtime paid.
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