Common use of Banked Holidays Clause in Contracts

Banked Holidays. If a regular employee or a temporary employee with more than six (6) months of continuous service is required to work on any day observed as a holiday and agrees in advance of that observed holiday to work for the straight time hour rate of pay rather than the premium rate of pay, then the holiday pay of twelve (12) hours may be traded for 12 hours to be added to that employee’s PTO entitlement for that calendar year. No more than thirty-six (36) hours may be acquired in this manner. When a holiday falls on an employee’s regularly scheduled work day, or on an employee’s regularly scheduled day off, the holiday may be observed on another work day within the same pay period which maybe in conjunction with the employee’s regularly scheduled days off, or any other day within that pay period. This accommodation must be by mutual Agreement between the employee and the Company and scheduled as far in advance as possible. It is understood that if any employee requests that they be excused on the fourth day of their four-day workweek, they will be compensated with twelve (12) hours of straight time pay. If the holiday falls on an employee’s regularly scheduled day off, or the fourth day of the four-day work week, and no other accommodations are made, the last scheduled, non-overtime work day, immediately preceding the holiday, shall be observed as the holiday for the purpose of this article.

Banked Holidays. If a regular employee or a temporary employee with more than six (6) months of continuous service is required to work on any day observed as a holiday and agrees in advance of that observed holiday to work for the straight time hour rate of pay rather than the premium rate of pay, then the holiday pay of twelve (12) hours may be traded for 12 hours to be added to that employee’s PTO vacation entitlement for that calendar year. No more than thirty-six (36) hours may be acquired in this manner. When a holiday falls on an employee’s regularly scheduled work day, or on an employee’s regularly scheduled day off, the holiday may be observed on another work day within the same pay period which maybe in conjunction with the employee’s regularly scheduled days off, or any other day within that pay period. This accommodation must be by mutual Agreement between the employee and the Company and scheduled as far in advance as possible. It is understood that if any employee requests that they be excused on the fourth day of their four-day workweek, they will be compensated with twelve (12) hours of straight time pay. If the holiday falls on an employee’s regularly scheduled day off, or the fourth day of the four-day work week, and no other accommodations are made, the last scheduled, non-overtime work day, immediately preceding the holiday, shall be observed as the holiday for the purpose of this article.