Common use of Banked Hours Clause in Contracts

Banked Hours. 1 Employee can bank wages at any time during the year .2 Wages from banked hours can be withdrawn at any time .3 Banked hours cannot be used for additional time off

Banked Hours. 1 .1 Employee can bank wages at any time during the year .2 Wages from banked hours can be withdrawn at any time .3 Banked hours cannot be used for additional time offoff .4 Banked hours are not accumulated from year to year and will be paid out in full on the April 1st of each year. Banked pay can be directed to a alternate bank account at the employees direction .5 Banked wages instructions must be submitted to the employee's supervisor on or before the Monday of the pay week. They must be submitted on the appropriate form.