Common use of Banked Hours Clause in Contracts

Banked Hours. The following defines the conditions under which overtime hours may be banked in lieu of receiving overtime pay. Overtime hours may be banked and paid at the rate of one regular hour worked for one hour off. The first four (4) hours will count towards double time (8 Hours overtime worked can be 4 hours banked and 4 hours at 1.5 times. Next overtime hours are double time in the same week)

Banked Hours. The following defines the conditions under which overtime hours may be banked in lieu of receiving overtime pay. Overtime hours may be banked and paid at the rate of one 1 regular hour worked for one hour 1.5 hours off. The first four (4) 8) hours will count towards double time (8 Hours overtime worked can be 4 hours banked and 4 hours at 1.5 times. Next overtime hours are double time in the same week)

Banked Hours. The following defines the conditions under which overtime hours may be banked in lieu of receiving overtime pay. Overtime hours may be banked and paid at the rate of one regular hour worked for one hour off. The first four (4) hours will count towards double time (8 Hours overtime worked can be 4 hours banked and 4 hours at 1.5 times. Next overtime hours are double time in the same week).