Banked Overtime definition

Banked Overtime means the time worked in excess of a member's regular tour of duty for which the member will be compensated at overtime or straight time rates pursuant to specific provisions of this Agreement. The member, at the discretion of the Chief Constable, shall have the choice of receiving payment for overtime earned or by time off in lieu of payment. A member may choose to bank overtime earned to a maximum of one hundred and twenty (120) hours in a calendar year to be taken in time off in lieu of payment at a mutually acceptable time to the Chief Constable and to the member. However, it is agreed that a member shall be allowed to carry forward a maximum of forty-eight (48) banked hours of overtime into the next calendar year. Auditing for the purpose of this section shall be as of December 1st of each calendar year. A member who has applied for time off in lieu, which has been duly approved prior to December 1st and is for time off during the month of December, shall be allowed to carry forward forty-eight (48) banked hours of overtime to the next calendar year. Upon promotion, the Board shall have the option of paying out in full a member's banked overtime.
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Banked Overtime means the time worked in excess of a member's regular tour of duty for which the member will be compensated at overtime or straight time rates pursuant to specific provisions of this Agreement. The member, at the discretion of the Chief Constable, shall have the choice of receiving payment for overtime earned or by time off in lieu of payment. A member may choose to bank overtime earned to a maximum of one hundred and twenty (120) hours in a calendar year to be taken in time off in lieu of payment at a mutually acceptable time to the Chief Constable and to the member. However, it is agreed that a member shall be allowed to carry forward a maximum of forty‐eight (48) banked hours of overtime into the next calendar year. Auditing for the purpose of this section shall be as of December 1st of each calendar year. A member who has applied for time off in lieu, which has been duly approved prior to December 1st and is for time off during the month of December, shall be allowed to carry forward forty‐eight (48) banked hours of overtime to the next calendar year. Upon promotion, the Board shall have the option of paying out in full a member's banked overtime. Where a member has more than forty‐eight (48) hours in their bank on December 1st and has not pre‐ scheduled time off sufficient to bring the hours in the bank down to forty‐eight (48), the Board may, at the discretion of the Chief Constable, choose to pay those hours in excess of forty‐eight (48) to the member in cash.
Sample 1

Examples of Banked Overtime in a sentence

  • If, when taking the time off as signed, the employee has not earned all of the Statutory Holidays, the employee may take the time off without pay, or may work on the Spareboard as Junior Extra with guarantee, or may access his or her Banked Overtime.

  • Where an employee qualifies for Family Responsibility Leave and the employee has Banked Overtime, the employee may access Banked Overtime for the day(s) in question.

  • The Banked Overtime (or BOT) balance is determined by multiplying the overtime hours worked by the applicable overtime rate.

  • Employees will be permitted to access their Banked Overtime or Random Annual Vacation to cover the time off.

  • Regular or temporary employees shall have the option of being compensated for overtime in cash or compensatory time off (Banked Overtime).

  • Notwithstanding the foregoing, in order to receive a bonus pursuant to this Section 4(d), the Employee must have been continuously employed by the Company from the date hereof until the end of the relevant fiscal year.

  • Should the employee wish to use an annual vacation day or Banked Overtime Day to compensate for the days lost earnings, their request will not be denied.

  • The Company and the Union agree to implement a trial system of Banked Overtime in Year 2 of this Collective Agreement.

  • Where an employee qualifies for Family Responsibility Leave and the employee has Banked Overtime, Unscheduled Annual Vacation (UAV) or Random Annual Vacation (RAV) time available, the employee may access Banked Overtime, UAV or RAV for the day(s) in question.

  • It is expected that employees will take Special Leave time off in full tours or in combination with other time off entitlements: i.e.: Vacations, Banked Overtime, Floaters, etc.

Related to Banked Overtime

  • Overtime means work performed by a full-time employee in excess or outside of their regularly scheduled hours of work.

  • Shift means a daily tour of duty exclusive of overtime hours.

  • Wages is defined as the amount of money the employee would have otherwise received over a period of absence, excluding overtime.

  • Current Sick Leave means those days of sick leave for the current contract year, which leave is granted at the rate of one day of sick leave per month worked, or major part thereof.

  • Unscheduled Holiday means a day that is not a Settlement Business Day and the market was not aware of such fact (by means of a public announcement or by reference to other publicly available information) until a time later than 9:00 a.m. local time in the principal financial centre of the Specified Currency two Settlement Business Days prior to the relevant Rate Fixing Date. As soon as the Calculation Agent is aware of such an Unscheduled Holiday, they shall inform the Issuer promptly.

  • Annual Debt Service as of any date means the maximum amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries, excluding amortization of debt discounts and deferred financing costs.

  • Paid sick leave – means paid leave under the Emergency Paid Sick Leave Act.

  • Open Year has the meaning specified in Section 4.01(r)(iii).

  • Clock hour means either of the following:

  • Excess emissions - means an emission rate that exceeds any applicable emission limitation or standard allowed by any rule in Sections .0500, .0900, .1200, or .1400 of Subchapter 02D; or by a permit condition; or that exceeds an emission limit established in a permit issued under 15A NCAC 02Q .0700. (Note: Definitions of excess emissions under 02D .1110 and 02D .1111 shall apply where defined by rule.)

  • Sick Leave means the period of time an employee is absent from work by virtue of being sick or disabled or because of an accident not covered by Workers' Compensation.

  • Base Period Income Base Period Income" is an amount equal to Executive's "annualized includable compensation" for the "base period" as defined in Sections 280G(d)(1) and (2) of the Code and the regulations adopted thereunder. Generally, Executive's "annualized includable compensation" is the average of Executive's annual taxable income from Company for the "base period," which is the five calendar years prior to the year in which the Change of Control occurs. These concepts are complicated and technical and all of the rules set forth in the applicable regulations apply for purposes of this Agreement.

  • Total Debt Service means the sum of (i) scheduled or other required payments of principal on Indebtedness, and (ii) Interest Expense, in each case for such period.

  • Annualised Premium means the premium amount payable in a year chosen by the policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any as specified in the Schedule.

  • Approved Leave of Absence means a leave of absence that has been approved by the applicable Participating Company in such a manner as the Board may determine from time to time.

  • Extra Premium means an additional amount charged by Us, as per Our Underwriting Policy, which is determined on the basis of disclosures made by You in the Proposal Form or any other information received by Us including medical examination report of the Life Insured.

  • Availability Incentive Payments has the meaning set forth in the CAISO Tariff.

  • Average Monthly Limit means the maximum allowable "Average Monthly Concentration" as defined in Section 22a-430-3(a) of the RCSA when expressed as a concentration (e.g. mg/l); otherwise, it means "Average Monthly Discharge Limitation" as defined in Section 22a-430-3(a) of the RCSA.

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • Bonuses means current cash compensation over and above Base Salary whether awarded under the Company’s Incentive Compensation Plan or otherwise awarded.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • parental bereavement leave means leave under section 80EA of the Employment Rights Act 1996;

  • Annual Premium means an amount specified in the Schedule, which is payable under the annual Premium payment mode under this Policy, excluding Extra Premium, if any and excluding service tax or any other taxes, cesses or levies, if any;

  • Highest Average Compensation means the average Compensation for the three (3) consecutive years of Service with the Employer that produces the highest average. A Year of Service with the Employer is the twelve (12) consecutive month period identical to the Plan Year.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • Continuous period of creditable coverage means the period during which an individual was covered by creditable coverage, if during the period of the coverage the individual had no breaks in coverage greater than sixty-three (63) days.