Residual Time. Time remaining in the Hourly Time Bank after an employee has taken either a holiday, vacation day, or excused work day on an alternate tour length basis. Residual Time may be taken as excused paid time in conjunction with Vacation, Designated Holiday Time, Floating Holiday Time or Excused Work Day Time. If, at the end of a calendar year, the total Residual Time in an employee’s Hourly Time Bank is equal to or greater than the number of hours in such employee’s AWS Scheduled Daily Tour, the employee must take the necessary number of days off to reduce the number of hours to below the number of hours in such employee’s Scheduled Daily Tour. If total Residual Time is less than the number of hours in such employee’s AWS Scheduled Daily Tour, the employee may take the Residual Time as excused paid time in one or more increments, of no less than 2 hours each. Residual Time that is not used in accordance with the previous provisions may be “bought out” by the Company at the basic hourly rate (including any evening or night differentials when applicable). This will be limited to a single buy out per calendar year. In no case will the amount of Residual Time that is to be bought out be greater than the number of hours in an employee’s Scheduled Daily Tour. “Pay in lieu of” situations applicable to vacations because of separations through dismissal (except misconduct), layoff, resignation, retirement, or death will also apply to Residual Time.
