Time Banks. Description:
Time Banks. The “Non-Cashable Time Bank” is earned through Term Assignments, is not cashable and must be taken in time off. The other “Time Bank” consists of earned overtime, is cashable or can be taken in time off. Upon conclusion of employment with First Air, there will be a reconciliation of all Time Banks. Transfer: A Transfer occurs where an Employee moves to another Home Base, whether on a permanent or temporary basis, and works scheduled shifts. Where practical, a Transfer opportunity will be posted. A Transfer does not constitute a Term Assignment. However, the notice provisions of Term Assignments shall apply to an Employee affected by a Transfer.
Time Banks. There shall be two Time Banks. The “Non-Cashable Time Bank is earned through Term Assignments, is not cashable and must be taken in time off. The other “Time Bank” consists of earned overtime, is cashable or can be taken in time off. Upon conclusion of employment with First Air, there will be a reconciliation of all Time Banks.
Time Banks. Effective as of the time of Closing on the Closing Date, ABS shall establish a time bank program for Transferred Employees (the “ABS Time Bank Program”) that is comparable to the BCH Time Bank Program as at the time of Closing on the Closing Date. ABS shall recognize, but shall not assume any liability associated with, the BCH Time Bank Days of each Transferred Employee accrued during service at BCH prior to the Transfer of Employment Date. From and after the Transfer of Employment Dates, Transferred Employees shall accrue additional entitlements under the ABS Time Bank Program, and the following shall apply:
(a) whenever a Transferred Employee is eligible for and claims a benefit under the ABS Time Bank Program, ABS shall determine the number of time bank days claimed by such Transferred Employee, whether the Transferred Employee takes the benefit in the form of time or cash;
(b) each Transferred Employee shall be considered to use his/her time bank days accrued under the ABS Time Bank Program in priority to those he/she accrued under the BCH Time Bank Program;
(c) if the amount of time bank days used by a Transferred Employee exhausts his/her entitlement to time bank days under the ABS Time Bank Program, as determined pursuant to Section 5.2(b), then ABS shall invoice BCH by way of a special charge under the Master Services Agreement (or through other means if the Master Services Agreement shall no longer be in effect) an amount equal to the lesser of:
(i) the number of time bank days used by the Transferred Employee that could not be provided pursuant to the ABS Time Bank Program; and
(ii) the number of BCH Time Bank Days then associated with the Transferred Employee, multiplied by the Transferred Employee’s rate of daily base pay as it stood at the Transfer of Employment Date for that Transferred Employee;
(d) whenever BCH makes a payment to ABS in respect of an amount that has been invoiced pursuant to Section 5.2(c), the number of BCH Time Bank Days associated with the Transferred Employee will be reduced by the number of BCH Time Bank Days in respect of which payment was made pursuant to Section 5.2(c); and
(e) BCH and ABS will cooperate to maintain accurate records of the number of unused BCH Time Bank Days for each Transferred Employee.
Time Banks. Prior to the first pay of every month employees shall be provided the balance of their Vacation, Holiday, Lieu Time, and Sick banks
Time Banks. The “Non-Cashable Time Bank” is earned through Term Assignments, is not cashable and must be taken in time off. The other “Time Bank” consists of earned overtime, is cashable or can be taken in time off. Upon conclusion of employment with Canadian North, there will be a reconciliation of all Time Banks. • Transfer: A Transfer occurs where a Member moves to another Home Base, whether on a permanent or temporary basis, and works scheduled shifts. Where practical, a Transfer opportunity will be posted. A Transfer does not constitute a Term Assignment. However, the notice provisions of Term Assignments shall apply to a Member affected by a Transfer.
