Banked Overtime. In the event the day in lieu of working the statutory holiday is not provided as stipulated in 8.01.04, this portion may also be banked.
Banked Overtime. (a) All regular employees may bank overtime hours at overtime rates to a maximum of forty (40) hours of straight time per calendar year (e.g. 26.67 hours of overtime equals 40 hours of straight time), instead of receiving cash payment, for the purpose of taking paid banked time off.
Banked Overtime. 17.01 All employees shall be entitled to accumulate overtime to create a bank of funds which may be taken at their discretion at a later date. The process shall include;
Banked Overtime. 1. All Full-Time Regular Employees will be allowed to bank their overtime for the purpose of taking additional time off during the following calendar year. The following conditions will apply:
Banked Overtime. For overtime worked, an employee upon request shall be given the option of choosing one of the following as disposition of overtime pay:
Banked Overtime. 5.08 Employees will be allowed to bank a maximum of eighty (80) cumulative hours, at their regular hourly rate, of overtime per calendar year. The Company will, subject to the requirements of the business, grant time off to employees which will be paid out of the employee’s banked overtime. Upon two (2) weeks’ notice, the employees may request to be paid out all monies in their overtime bank to be included in their next payroll cheque. In any event, all employees banked overtime balances will be reduced to zero by payment on their payroll cheque at each calendar year-end or when they leave the Company.
Banked Overtime. (a) Where mutually agreed by the Employer and the Employee, the Employee may receive time off in lieu of overtime (banked overtime). Banked overtime shall be equivalent to the actual time worked multiplied by the applicable overtime rate. Banked overtime may be taken as time off at a time mutually agreed by the Employee and the Employer. Overtime may be banked to a maximum of forty (40) hours at any one time; any overtime in excess of forty (40) hours shall be paid as it is earned. Banked overtime must be taken as time off or paid out by March 31st of each calendar year.
Banked Overtime. This constitutes a Letter of Understanding between Finning (Canada) A Division of Finning International Inc. and the International Association of Machinists and Aerospace Workers, Lodge 99.
Banked Overtime. Employees may request to have overtime banked by the Company. Time off in lieu of payment to be taken at a time mutually agreed to by the Company and the employee. In the event that banked overtime is not used prior to December 31 of any year, payment will be made of the balance at the applicable rate of earnings in force at the time the overtime was worked.
Banked Overtime. (a) For each shift an employee may choose to be paid or to credit their total overtime earnings to their overtime bank.
